China's Crude Oil Output Drops 1.3%, Natural Gas Output Up 5.1% Year-Over-Year in May 2012

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Researched by Industrial Info Resources China (Beijing, China)--In May 2012, China's crude oil output reached 17.03 million metric tons, a drop of 1.3% from May 2011. Crude oil imports reached 20.82 million metric tons, an increase of 0.9%. Crude oil processing volumes reached 34.2 million metric tons, a drop of 1.8%. Product oil output reached 21.3 million metric tons, up 1.4%. Product oil consumption reached 20.93 million metric tons, up 0.4%, of which, diesel reached 3.22 million metric tons, up 3.9%, according to the Monthly Operation Report issued by the National Development and Reform Commission on June 21, 2012.

From January to May 2012, China's accumulative output of crude oil reached 83.58 million metric tons, a drop of 1.4% year-over-year; that of crude oil import reached 109.18 million metric tons, up 3.5%; that of crude oil processing volume reached 171.88 million metric tons, up 0.5%; that of product oil output reached 106.27 million metric tons, up 3.1%, including 32.88 million metric tons of gasoline and 64.95 million metric tons of diesel, up 5.4% and 0.8% respectively; that of product oil consumption reached 100.58 million metric tons, up 2.2%, of which gasoline consumption was up 5.6%. As of the end of May 2012, the stockpile of product oil added 1.79 million metric tons year-over-year, of which the stockpile of diesel added 1.46 million metric tons.

In May 2012, China's natural gas output reached 8.4 billion cubic meters, up by 5.1% from May 2011; that of natural gas import reached 3.3 billion cubic meters, up 28.8%; and that of natural gas consumption reached 11.3 billion cubic meters, up 12.9%, but the daily average consumption was 15.1% lower than the first quarter.

From January to May 2012, China's accumulative output of natural gas reached 45.7 billion cubic meters, up by 7.3% year-over-year; that of natural gas import reached 16.3 billion cubic meters, up 42.8%; that of natural gas consumption reached 61.3 billion cubic meters, up 15.9%.

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