China’s $13 Bn budget

摘要

China plans to invest around US $13.08 Bn on oil and gas exploration this year as it looks to boost energy supplies and reduce dependence on imports, according to reports. China is the world’s largest energy consumer and has steadily increased its spending on exploration activity over the past 10 years or so. China spent $11.0 Bn in 2011, up from $3.11 Bn in 2002, according to figures from the Ministry of Land & Resources, reported the Xinhua state news agency.