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China's growing energy market will benefit an increasing number of global and regional oil companies, Charles Chang, Fitch associate director in Hong Kong, said in an article written for his firm's recent Oil and Gas Insights publication.

......"Asia's energy growth is neither a recent phenomenon nor a cyclical event. It is, rather, a sustained trend that had lasted for over a decade," Chang said.

.......The fundamental growth drivers behind oil remain China's burgeoning electrical demand and automobile market, Fitch said. This is expected to push demand for refined products and drive upstream acquisitions by China Petrochemical Corp. (Sinopec), PetroChina Co. Ltd., and CNOOC Ltd., a unit of China National Offshore Oil Corp.

Southeast Asia was the principal natural gas consumer during the last decade. The Chinese government has aggressively promoted gas use in recent years.

China's lagging gas demand growth stemmed from infrastructure bottlenecks in the country's gas distribution and transmission infrastructure.
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