Warning to energy producers
Updated: 2008-01-16 09:11
The total oil consumption is projected to reach 515 million tons in 2015 from 346 million tons in 2006. By 2015, the country's oil dependence ratio is to reach 60 percent from the current 48 percent.
Zhou said economic slowdown may give China's energy sector a chance to restructure itself. In an earlier report, the National Development and Reform Commission said China will build six to eight large-scale coal enterprises, each with a capacity of 100 million tons, and eight to 10 coal enterprises with a capacity of 50 million tons each.
These large enterprises are expected to contribute more than half of China's coal output of 2.6 billion tons in 2010. China produced 2.4 billion tons of coal in 2006 but its 80,000 coal companies produced an average of just 30,000 tons.
Lin Yueqin, a researcher with the Chinese Academy of Social Sciences, echoed Zhou's views, saying China's industrial restructuring may also decrease energy demand.
Lin said the latest efforts are aimed at updating China's investment guidelines and phasing out resource-intensive industries in line with the nation's development policy.
The government is seeking public opinion on the revised 45-page guidelines, which include about 1,000 items. Outdated and small-scale coal mines, and power and iron and steel plants will be prohibited under the new guidelines.
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