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China's crude oil output edges up in October

Xinhua Financein ​BEIJING
2018-12-02 13:48

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China's crude oil output edged up 0.3 percent year on year in October, data from the National Development and Reform Commission showed.

Crude oil output came in at 16.09 million tonnes in October, while the country refined 52.78 million tonnes of crude oil, up 4.6 percent year on year.

China is one of the world's largest oil purchasers, importing more than 60 percent of its oil.

In October, China consumed 56.75 million tonnes of crude oil, up 21.3 percent year on year. Crude oil imports rose 31.5 percent to 40.8 million tonnes.

Meanwhile, natural gas output totaled 13.4 billion cubic meters in October, up 8.9 percent year on year.

China aims to increase domestic crude oil output to 200 million tonnes by 2020. Major tasks for the oil industry include accelerating exploration to ensure domestic oil supply, speeding up construction of pipeline networks and developing clean alternatives.
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