China’s crude oil output falls 2.3% in June

2018-07-16
Xinhua

BEIJING — China’s crude oil output fell 2.3 percent year on year in June, data from the National Bureau of Statistics (NBS) showed on July 16.

Crude oil output came in at 15.85 million metric tons last month, and 49.78 million tons of crude were refined, up 8 percent year on year.

China is one of the world’s largest oil buyers, with over 60 percent of its oil consumption coming from imports. The country imported 225 million tons of crude oil in the first half of the year, up 5.8 percent from the same period last year.

Meanwhile, natural gas output in June totaled 12.18 billion cubic meters, gaining 5.6 percent year on year.

China aims to increase domestic crude oil output to 200 million tons by 2020, while supply capacity for natural gas should exceed 360 billion cubic meters.

Major tasks for the oil industry include accelerating exploration to ensure domestic oil supply, speeding up construction of pipeline networks, and developing clean alternatives.