oil import

As far as the diversification of oil import sources and supply security are concerned, China and Europe both fall behind the United States.

But the Manila government is now looking into accelerating plans to revive a mechanism that will reduce oil-import tariffs as costs rise.

Rising non-oil import prices in December underscored the risk that the US could import inflation due to the weak dollar.

The Ethiopian government says it plans to produce biofuels to cut oil import bills, dismissing fears the strategy could hit food production.

Member states agreed to give companies with existing oil import contracts until Nov. 15 to comply with an oil embargo, diplomats said.

Gloria Macapagal Arroyo, the Philippines president, this week cut an oil import tariff to appease transport workers threatening a strike.

He pointed to the corporate profit cycle and lower non-oil import prices as factors that explain lower core inflation in recent months.

China's oil import supply lines must be protected, particularly so in the event of war with India.

Therefore, oil import security has become a strategic problem concerning security of oil, economy and politics.

However, in the recent months, oil import price began a rebound and higher price has affected China's oil market.

Zhou Dadi is expected this year, China's oil import dependency is likely to exceed 55%.

The oil import bills are becoming a threat to the economic recovery.

He has suggested imposing an oil import fee and raising excise taxes on liquor and cigarette.

Source said India might also support the discussion on the issue because of its high oil import bills.

Recently, with the rapid development of our national economy, our country's economic development relies on oil import deeper and deeper.

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