Ｃｈｉｎａ’ｓ Ｎａｔｉｏｎａｌ Ｏｉｌ Ｒｅｓｅｒｖｅ Ｃｅｎｔｅｒ ｗａｓ Ｂｏｒｎ

Aseries of events that occurredin October 2007, are rewrit-ing the history of China's en-ergy industry: November 3 an EnergyLaw Committee asked the public forsuggestions on improvements; fortytop experts came together to formthe National Energy Expert AdvisoryCommittee on November 6; and theNational Oil Reserve Center (NORC)became the nerve centre of oil reserveson November 18. Yet, behind the prog-ress of these recent activities remainsthe fact that international oil prices stillhover around a very high price of US＄90/barrel, and China's oil imports areclose to accounting for half of its totaloil reserves.