ZCZC
BCN-31
CHINA-CRUDE-OIL-OUTPUT
China’s crude oil output falls 1.6 pct in May
BEIJING, June 23, 2018 (BSS/Xinhua) – China’s crude oil output fell 1.6
percent year on year in May, data from the National Development and Reform
Commission showed.
Crude oil output came in at 16 million tonnes during the period, which saw
51 million tonnes of crude refined, up 8.2 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 39 million
tonnes of crude oil last month, up 5 percent from the same period last year.
Meanwhile, natural gas output totaled 12.6 billion cubic meters, gaining
5.9 percent year on year.
China aims to increase domestic crude oil output to 200 million tonnes 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.
BSS/XINHUA/HR/1425