Data available on Communist China's production, importation, and consumption of petroleum from 1949 through 1960. The Memorandum also assesses Communist China's future prospects for increasing domestic production and for reducing dependence on the USSR, which supplied about half of China's consumption in 1960. The 1960 total supply (about 5 million tons) was still very small, but there can be no doubt that its petroleum industry has made extremely rapid progress. The target for self-sufficiency in 1962, however, appeared to be highly unrealistic, and dependence on imports seemed likely to continue for some time. 80 pp.