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1. China currently levies taxes on coal, gas and crude oil extraction by volume.

2. But a local resident who lives near a workshop for crude oil extraction said the oil is too disgusting to be used as cooking oil.

3. The world's verified oil reserves will not dry up in 40 years, measured by the current extraction pace.

4. The NDRC also warned of obvious production overcapacity in sectors like electrolytic aluminum, ship manufacturing and soybean oil extraction.

5. Last month the two oil giants established a joint venture in Russia to do oil prospecting and extraction business.

6. But they never include the low costs of oil extraction on Chinese oilfields into their cost calculation.

7. The Sonda de Campeche contributes 83 percent of the national oil extraction.

8. The recent rise in manufacturers'price of natural gas will benefit the oil extraction industry.

9. Oil from the tar sands of Alberta is the dirtiest in the world, and its extraction is already causing problems.

10. The government may levy taxes on oil extraction based on value, the report said.