En Español

Very usefull links


News links




Dow Jones

Oil price



Views and News





China's gas out put flat, refinery runs at second-highest on record



Petroleumworld.com 03 15 2017

China's refinery throughput during the first two months of 2017 rose 4.3 percent from same time a year ago to the second-highest level on record on a daily basis, while crude output fell 8 percent from a year earlier, official data showed on Tuesday.

Chinese refineries processed 90.76 million tonnes of crude oil during January and February, the National Bureau of Statisics (NBS) reported. That is equivalent to about 11.23 million barrels per day (bpd), second only to December's all-time high of 11.26 million bpd.

The NBS provided information for the two months together to smooth the impact of the Lunar New Year holiday, and did not give a separate monthly breakdown.

The increase followed a rise in the number of independent oil plants winning quotas to import crude oil, while state refiners stepped up processing to build stocks ahead of the holiday that started in late January, contributing to a strong increase in total throughput.

Crude output in the same period fell 8 percent over the same period a year earlier to 31.44 million tonnes, or about 3.89 million bpd, the data showed.

Combined inventories of diesel, gasoline and kerosene rose more than 10 percent to a six-month high by the end of January over the previous month, according to data from the official Xinhua News Agency.

The swelling stocks reflected weakening demand, especially for diesel as mining activities waned ahead of the holiday period.

A recent draft government plan to start banning trucks moving coal in northern China in favour of railway transport is also poised to deal a blow to diesel demand in the coming months.

The fall in oil output comes amid near decade-low prices.

Sinopec Corp, the country's second-largest oil producer, posted about a 15 percent fall in domestic crude oil production last year at 253 million barrels, the company said in late January.

China's top oilfield Daqing recorded a 4.8 percent drop in crude oil output in 2016 versus a year ago.

The NBS data on Tuesday also showed China's natural gas production was unchanged from a year ago at 25.1 billion cubic metres.

Jenny Yang, a Beijing-based analyst at IHS Markit, said the flat production might have been an effort by the national oil companies to adjust available supplies from multiple sources including imports of liquefied natural gas (LNG).

"China's LNG imports surged over 50 percent year-on-year during November 2016 to January 2017 owing to the concern of a potentially cold winter. However, the winter has turned out to be a mild one, and much of the imported fuel still remains in storage," said Yang.

(Tonne=7.3 barrels for crude conversion)

Note by Chen Aizhu; Reporting by Cheng Fang, Meng Meng and Chen Aizhu; Editing by Richard Pullin from Reuters.

We invite all our readers to share with us
their views and comments about this article

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

April, 25 - 27
Punta del Este, Uruguay



March 24-30


Offshore Technology Conference

May 1-4, NRG Park
Houston, Texas, USA







Contact: editor@petroleumworld.com,

Editor & Publisher:P.Ohep F. /Producer - Publisher:P.Ohep F./
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2016, Petroleumworld   / Elio Ohep Fitzgerald- All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.