Analyzes the Chinese oil market and the pressure on Beijing to reform policies which constrain China's ability to meet soaring demand and to pay for crucial imports at a time of growing political and economic uncertainties. This work also reminds the reader of the perennial difficulty in meeting widely disparate economic and energy needs.

Moreover, he reminds the reader of the perennial difficulty in meeting widely disparate economic and energy needs in different regions of the vast country.

Chapter headings and subheadings:
Preface. Economic and Political Outlook. Economic performance: overview and outlook. Political outlook. Oil Policy and its Impact. Oil industry reforms. Oil pricing. Oil distribution policy. Oil import policy. Crude Oil Production. Crude production levels, onshore and offshore. Tarim Basin exploration and development. Projected crude production. Refining Industry: Policy and Industry Prospects. Crude distillation and conversion capacity. Overview of refining capacity plans and assessment of actual changes. Refinery yields and output. Oil transportation. Refining policy. Petroleum Product Demand. Oil in total energy consumption. Gasoline. Diesel oil. Fuel oil. Other refined products. Total petroleum products. Oil Quality and its Environmental Impact. Crude quality. Environmental impact. Supply/Demand Balance: Implications for Trade. Crude oil balance. Petroleum product balance. Can China afford import expenses? Regional oil balance. China's impact on the Asian Market. Impact of crude imports on regional trade flows and crude prices. Impact of product fundamentals on regional supply/demand balances. Impact of product crude spreads. Conclusion. Appendices. Index.