China's Natural Gas Output Up 6.8% in First-Quarter 2015

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Researched by Industrial Info Resources China (Beijing, China)--In the first quarter of 2015, China's total output of natural gas reached 35.2 billion cubic meters, an increase of 6.8% from first-quarter 2014. The output of natural gas in January, February and March reached 12.6 billion cubic meters, 10.9 billion cubic meters and 11.7 billion cubic meters, respectively, according to the National Development and Reform Commission's recently announced Instant Statistics Report.

During the quarter, China's total imports of natural gas reached 16 billion cubic meters, an increase of 16.5% from first-quarter 2014. The import of LNG reached 6.8 billion cubic meters, a drop of 2.9%; the import of natural gas via pipeline reached 9.3 billion cubic meters, an increase of 36.8%.

In first-quarter 2015, China's total consumption of natural gas reached 50.2 billion cubic meters, an increase of 4.8% from the same period last year. The consumption of natural gas in January, February and March reached 18.8 billion cubic meters, 15.3 billion cubic meters and 16.1 billion cubic meters, respectively.

During the quarter, China's total output of crude oil reached 52.18 million metric tons, an increase of 1.3% from first-quarter 2014. The output of in January, February and March reached 18.06 million metric tons, 16.15 million metric tons and 17.97 million metric tons, respectively.

In first-quarter 2015, China's total processing of crude oil reached 116.35 million metric tons, an increase of 2.5% from the same period last year; the total oil output reached 73.54 million metric tons, an increase of 4.2%; and total oil consumption reached 65.78 million metric tons, an increase of 4.7% from first-quarter 2014. The consumption of gasoline was up 10.5%, and that of diesel was down by 0.1%. As of the end of March, the stockpile of product oil rose 1.73 million metric tons over the previous month, or 750,000 metric tons from the same period last year.

Due to the falling in oil price and consumption growth, in the first quarter of 2015, the total income of China's oil and gas exploiting industry was dropped to $30.48 billion, a drop of 34.3% from first-quarter 2014, and the net profit was dropped to $4.54 billion, a drop of 71.7%.

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