By Li Fangchao (China Daily)

China, hosting its first major energy summit over the weekend, urged top oil consumers to unite in the face of fluctuating global oil prices and maintain energy security.

China, the United States, Japan, South Korea and India, which together use almost half of the world's energy, agreed in a joint statement to strengthen co-operation in seeking energy alternatives, energy conservation and the sharing of information.

The five consumer nations will also focus on diversifying energy sources, increase efficiency to reduce oil dependency, co-operate on strategic oil reserves, and encourage more investment in the industry to ensure sufficient supply.

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Posted by pichu at December 18, 2006 12:45 PM