China’s crude oil output resumes growth

2018-09-17
Xinhua

China’s crude oil output edged up 0.2 percent year-on-year in August, the first monthly increase since November 2015, data from the National Bureau of Statistics (NBS) showed.

Crude oil output came in at 16 million tons last month, and 50.3 million tons of crude were refined, up 5.6 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 38.4 million tons of crude oil in August, up 12.9 percent from the same period last year.

Meanwhile, natural gas output reached 12.9 billion cubic meters, gaining 9.7 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.

Raw coal output also increased in August, up 4.2 percent year-on-year to reach 300 million tons, compared with a 2-percent drop in July, NBS data showed.