There is great potential for energy conservation in China and the government is committed to constructing a resource conservative society, an official said in Johannesburg Thursday at the ongoing 18th World Petroleum Congress.

China will improve its efficiency on resource utilization to meet the challenge between fast economic growth and increasing demand for energy, said Wu Yaowen, vice chairman of the Chinese National Committee of the World Petroleum Council (WPC).

"The solution for the contradiction between rapid and sustained economic growth and demand for energy will be found domestically by sticking to the policy of 'Energy development in parallel with energy conservation and placing priority in saving'," Wu said at China's Country Presentation during the Congress.

Also the WPC's newly-elect vice president, Wu said the energy utilization rate in China currently lags far behind the level in the developed countries and the average level in the world, it is urgently imperative to expedite the construction of a resource conservative society.

"To create the harmony between energy and society is the pursuit of the Chinese petroleum industry forever, also a historical mission," he said.

"We are obligated to take major responsibilities in three aspects -- economy, environment and society to enable the petroleum industry to serve the society excellently and responsibly."

According to the official, China is pursuing a national activity for energy conservation and initial results have been achieved. The growth rate of oil demand was reduced to 5.3 percent in the first half of this year from 12.5 percent in 2004.

Over 3,500 petroleum executives, 250 students and 400 journalists worldwide are gathering at Johannesburg to attend the 18th World Petroleum Congress, the first time the WPC holds its tri-annual event on the African continent in its 72-year history.

Founded in London in 1933, the WPC is an international, unbiased, non-political organization that provides a forum for discussing world issues facing the oil and gas industry. It is dedicated to scientific advances in the oil and gas industries, technology transfer and to promote the management of the world's petroleum resources for the benefit of mankind.

The WPC's 62 member countries represent over 90 percent of the world's major oil producing and consuming nations of the world.

Source: Xinhua