18-08-08 China's crude oil reserve was estimated to stand at 108.6 bn tons, the Ministry of Land and Resources (MLR) said. About 21.2 bn tons of crude could be developed under the current technology, said the MLR.
Meanwhile, the maximum natural gas reserve was estimated to stand at 5.6 tcm, and 2.2 tcm could be exploited under the current technology.

The discovery was based on the country's nationwide development and research. The MLR, the National Development and Reform Commission and the Ministry of Finance jointly launched the research in 2003.
China is one of the world's biggest producer and consumer of oil. Last year, it produced 186.66 mm tons of oil and consumed more than 300 mm tons.

The nation also produced 69.3 bn cm of natural gas in 2007.
The figure was expected to rise to 76 bn cm this year.