China is poised to become a net importer of oil in 1994 95. That sets the stage for China importing more than 1 million b/d of crude oil and refined products on a net basis by the turn of the century. That development underpins a bigger story arguably the biggest story on the petroleum scene today. The turnabout that is seeing the world's fifth biggest oil producer go from significant oil exporter in recent years to major oil importer by the turn of the century points to several other truisms in the petroleum industry: That an oil demand surge in the Asia Pacific region led by China will fuel overall...

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