CONTEMPORARY EURASIA VIII (2) ContEurVIII2 | Page 77

ARAM ABAJYAN
Table 5.1:
The production, consumption and imports of crude oil by million tons
Year Production Consumption Imports
1980
1985
1990
1995
2000
2001
2002
2003
2004
106.0
124.9
138.3
149.0
162.6
164.8
168.9
169.3
175.5
87.6
91.7
114.9
160.7
230.1
232.2
245.7
252
292.7
0.4
0.7
2.8
17.1
70.3
60.3
69.4
91.0
122.7
Exports
13.3
31.2
24.9
18.8
10.3
7.6
7.2
8.1
5.5
Self-sufficiency
ratio %
113.9
132.3
119.0
101.2
73.0
75.8
73.1
67.1
60.0
Along with the expansion of China’s auto and aviation markets, its
fuel demands and huge needs for imported oil increased as well. Nearly
one-third of its oil was consumed by cars. Moreover, since the Chinese
government launched promotions of the car market as one of the main
industries for the country’s economic growth, this share was projected to
increase to nearly 50 percent in 2020. A significant increase in Beijing’s
oil demand was becoming evident. Its huge energy needs could only be
satisfied through overseas imports. China showed enthusiasm for
securing its growing oil imports. China’s President Hu Jintao’s
declaration in November 2003 illustrated that point. He announced that
oil and finance had become two significant components of China’s
national economic security. Thus, in accordance with China’s economic
growth, oil was gradually becoming an increasingly important factor.
Moreover, it was assuming a crucial role in Beijing’s diplomacy and
foreign policy objectives. Indeed, China’s oil diplomacy was focused and
closely related to the oil-rich Middle East region. In response to its
growing oil demands, Beijing first initiated the expansion of its relations
with the key oil producing countries in the Middle East attempting to
increase the index of its oil imports. Not surprisingly, by the end of the
20 th century, the main sources for China’s oil imports were Southeast
Asia and the Middle East. However, the Middle East’s share in contrast
with the Asia-Pacific region rose tremendously, reaching nearly 54
percent in 2000. At the same time, Southeast Asia’s share declined to 15
percent. The main reason for this phenomenon was that Southeast Asia’s
rising oil demands made the region decrease its own exports (See Table
5.2). 34

34
Ibid, 522.
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