Chinese Oil Refiners Grow Steadily amid Rising Demand: Report-Shanghai Metals Market

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Chinese Oil Refiners Grow Steadily amid Rising Demand: Report

Industry News 09:02:34AM Feb 16, 2013 Source:SMM

BEIJING, Feb. 14 (Xinhua) -- China's oil refining industry grew steadily in 2012 as a result of rising domestic consumption, according to a report from the country's top economic planner.

Chinese oil refiners processed 467.91 million tonnes of crude oil in 2012, up 3.7 percent year on year, said a report posted on the website of the National Development and Reform Commission (NDRC).

Domestic demand has basically been met, with consumption of gasoline and kerosene rapidly rising, according to the report.

Buoyed by the expansion of both the auto market and aviation industry, the apparent consumption of gasoline and kerosene in 2012 rose 12.2 percent to 86.84 million tonnes and 14 percent to 20.95 million tonnes, respectively, whereas diesel consumption stayed almost flat at 169.73 million tonnes, the report said.

The NDRC said imports of refined oil dropped 16.9 percent to 7.16 million tonnes last year due to abundant domestic supplies, while exports shrank 3.3 percent to 12.23 million tonnes due to tighter controls over outbound oil products.
 

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Chinese Oil Refiners Grow Steadily amid Rising Demand: Report

Industry News 09:02:34AM Feb 16, 2013 Source:SMM

BEIJING, Feb. 14 (Xinhua) -- China's oil refining industry grew steadily in 2012 as a result of rising domestic consumption, according to a report from the country's top economic planner.

Chinese oil refiners processed 467.91 million tonnes of crude oil in 2012, up 3.7 percent year on year, said a report posted on the website of the National Development and Reform Commission (NDRC).

Domestic demand has basically been met, with consumption of gasoline and kerosene rapidly rising, according to the report.

Buoyed by the expansion of both the auto market and aviation industry, the apparent consumption of gasoline and kerosene in 2012 rose 12.2 percent to 86.84 million tonnes and 14 percent to 20.95 million tonnes, respectively, whereas diesel consumption stayed almost flat at 169.73 million tonnes, the report said.

The NDRC said imports of refined oil dropped 16.9 percent to 7.16 million tonnes last year due to abundant domestic supplies, while exports shrank 3.3 percent to 12.23 million tonnes due to tighter controls over outbound oil products.