China’s 1H 2006 Petroleum Imports up 15.6%
19 July 2006
People’s Daily. China’s petroleum imports rose 15.6% to 73.33 million tons (579 million barrels) of crude oil in the first half of 2006 from the year before, according to the National Bureau of Statistics (NBS).
The imports of refined oil products reached 18.23 million tons, up 16.1 percent from the same period of last year.
According to statistics of the General Administration of Customs, the average price of imported crude oil in the first six months is US$452.9 per ton, up 33% year on year, and the average price of imported refined oil products is US$423.3 per ton, up 48%.
China spent about US$40.9 billion to import petroleum in the first half year of 2006.
While the imports of petroleum experienced sharp rise, China saw its exports of petroleum drop by a large margin in the first six months. China exported three million tons of crude oil, 17% lower than the same period of last year and exported 6.2 million tons of refined oil products, dropping 18.3%.
Despite the increase in imports, China’s consumption of crude oil and refined oil products dropped by 0.5% year on year.
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