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In 2008 China's oil imports equaled domestic production for the first time. China therefore relies on imports for 50% of its consumption of 7.6 million barrels/day. This import figure could rise to 75% of consumption by 2030 according to the International Energy Agency.
 
 
    Oil Consumption China 1965-Present
 
   
 
  Source: BP, www.wolfatthedoor.org.uk
   
    Oil Consumption Change 1965-Present
 
   
 
  Source: BP, www.wolfatthedoor.org.uk
   
    Oil and Gas Reserves and Production by Selected Country
 
 
   Country Oil reserves
(bn bbl)
Oil production
(mm bbl/year)
Natural Gasreserves
  (bn cu mts)
Natural gas roduction
(bn cu mts)
   Argentina 2.59 288.6 446 44.8
   Bolivia 0.47 22.5 750 14.7
   Brazil 12.18 831.1 348 9.8
   Colombia 1.51 214.6 123 7.2
   Ecuador 4.52 184.3 N/M N/M
   Mexico 11.65 1,277.5 392 55.9
   Venezuela 87.04 973.5 4,708 26.5
   Country Oil reserves
(bn bbl)
Oil production
(mm bbl/year)
Natural Gasreserves
(bn cu mts)
Natural gas roduction
(bn cu mts)
   Angola 9.04 697.2 270 0.7
   Sudan 5.00 170.1 85 N/M
   Nigeria 36.22 858.4 5,210 34.1
   Equatorial Guinea 1.10 134.5 37 1.3
  Source: World Factbook 2008, 2009, EIA