Zhang Guobao Quotations

The outcome of evaluation on the oil and gas resources was better than former data.

One moment Russia is saying they have made a decision, the next saying that no decision has been made. To date, there has been no correct information. This is regrettable.

China has set a strategy to economize energy use, increase energy efficiency, mainly depend on domestic supply and explore the overseas market.

It also delivers substantial economic and environmental results, alleviating poverty.

It is not correct to attribute the crude oil price hike in 2004 to the growth of oil consumption in developing nations such as China and India .

Renewable energy, including solar, wind power and hydropower, will contribute to better energy security in China,

This (scale) should be determined according to China's real conditions.

Today's announcement reflects an expansion in bilateral trade between China and the United States and it underscores the strength of Sino-U.S. relations,

There has been a lot of communication, but there has been little actual progress.

This should be determined by China's real conditions.

Currently the international oil prices are at high levels. Against this backdrop, we would face big risks if we buy oil from the international market.

It would be a great financial risk for China to buy oil at the international market for its strategic reserve program as the current global oil price has been fluctuating at a high level.

And the proportion will increase to 10 per cent by 2020.

Any slightest fluctuation could drive speculations on the oil price.

As long as an all-out effort is made in exploration, it is possible to find new oil and gas resources in China.

This marks a turning point in the electricity supply shortfalls of a few years ago.

The current price is much higher than it should be, since there is not a real crude oil shortage in the world market.