China’s oil purchase fraught with woes

WITH oil prices spiralling through the roof, it makes good economic and strategic sense to think ahead. China is already the world's second largest oil importer, after the United States.  

Indeed, energy has been a key concern for China since 1993, when it began importing crude oil for the first time in its economic history. China's total crude oil imports soared 35% last year to 840 million barrels.