newstodate.aero
MAR 24, 2004 (newstodate): In a move to secure its supplies of jet fuel for the ever-growing aviation industry, China Aviation Oil plans to take up to 20 per cent equity in a Middle East oil terminal firm.
China, the world's second-largest oil consumer, already today satisfies nearly one third of its needs from external markets.
In 2004 China expects to consume seven million tonnes of jet fuel, up from 5.7 million tonnes last year, 30 per cent of which was supplied by China Aviation.
China's total consumption is forecast to rise to 10 million tonnes by 2010.
China, the world's second-largest oil consumer, already today satisfies nearly one third of its needs from external markets.
In 2004 China expects to consume seven million tonnes of jet fuel, up from 5.7 million tonnes last year, 30 per cent of which was supplied by China Aviation.
China's total consumption is forecast to rise to 10 million tonnes by 2010.