The rapid development of China's economy and international trade has profound implications for its energy situation. Currently China produces 4% of the world's energy but consumes 8%. The rise of China as an energy importer has led to suggestions that the country is a major contributor to the current turmoil in world oil and gas markets. This book examines carefully China's record of oil and gas development, refining capacity, and energy prospects. The authors conclude that there are no fundamental reasons for anxiety about China's demands on the world energy economy. However they do emphasise that China's energy future depends crucially on a continuing process of internal reform and internationalisation.