China Needs New Extraction Techniques To Expand Its Oil OutputHira Shahnawaz Akhtar
China is the world’s second largest consumer of crude oil with oil consumption growing 4% in 2013. However, the country is able to cater to only 42% of this demand with China expected to become the largest net importer of crude oil in 2014.
Emerging economy needs to fuel its growth
The world’s fastest growing economy consumed about 10.7 million barrels per day (bblpd) of oil in 2013 according to the US Energy Information Administration (EIA). The country grew at an uncontrollable pace over the . . .
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