BEIJING, March 3 (Xinhua) — China’s crude oil output edged up 0.3 percent year-on-year in January, data from the National Development and Reform Commission (NDRC) showed.

Crude oil output came in at 16.19 million tons in January, while 49.97 million tons of crude were refined, up 1.9 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 42.6 million tons of crude oil in January, up 5.1 percent from the same period last year, according to the General Administration of Customs.

The consumption of refined oil saw a 2.1-percent rise year on year, amounting to 27.14 million tons in January, the NDRC data showed.

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.

Sharing is caring!

loading...