China's crude oil imports rise by 17.6%
(Agencies)
Updated: 2006-08-13 09:57
China's net import of crude oil rose by 17.6 per cent year on year in the
first half of 2006, due to the rapid economic growth and booming automobile
purchases.
Net imports of crude oil rose to 70.33 million tonnes while that of refined
oil products increased to 12.03mts in the first half.
Net imports are calculated after subtracting the amount of oil China exported
from the amount it imported. China imported 73.33mts of crude oil and exported
3mts in the first six months, Chinese customs officials said.
Angola, Saudi Arabia, Iran, and Russia were the top four oil suppliers for
China during the six-month period.
As for refined oil, the country imported 18.23mts and exported 6.2mts in the
January-June period.
According to officials, China's crude oil purchases cost the country $32bn
and refined oil products cost $4.37bn.
During the first six months, China produced 91.66mts of crude, up by 2.1pc
over the same period last year, and 84.82mts of refined oil, representing a
year-on-year increase of 5.6pc, officials said, citing statistics from the China
Petroleum and Chemical Industry Association.
Both hit a new production record, compared with figures for past years.
China's economy grew by 10.9pc in the first half of 2006, 0.9pc higher than the
same period of 2005.
(For more biz stories, please visit Industry Updates)
|
