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China’s crude oil output edges up in October

Updated: Dec 2,2018 12:59 PM     Xinhua

BEIJING — 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 tons in October, while the country refined 52.78 million tons 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 tons of crude oil, up 21.3 percent year-on-year. Crude oil imports rose 31.5 percent to 40.8 million tons.

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 tons 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.