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2016-02-16 19:05:00

CHINA'S OIL IMPORTS DOWN

CHINA'S OIL IMPORTS DOWN

 

CHINA OIL PRODUCTION CONSUMPTION 1993 - 2016

 

China's crude oil imports fell 20 percent in January from record high volumes the previous month to their lowest level since October, official customs data showed on Monday.

January crude oil imports were also down 4.6 percent on a year earlier at 26.69 million tonnes, or 6.29 million barrels per day.

China's imports reached a record 7.81 million bpd in December to close out 2015 with an average 6.71 million bpd - a figure well above China's still growing demand for oil.

China took advantage of low global oil prices last year to add up to 185 million barrels to its reserves, Reuters calculations show, while oil demand - refinery throughput plus net imports of oil products - grew 3.1 percent.

In January, fuel exports rose 45.2 percent to 3.01 million tonnes, or 679,700 bpd, after hitting a record 975,500 bpd in December, as China continued to export more diesel amid weakening demand for the industrial fuel.

Diesel exports in the first quarter of 2016 may high a record high for that period, flooding Asia with supply at a time when profit margins are close to six-year lows, industry sources have said.

Net fuel exports were 350,000 tonnes in January.

reuters.com

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More: 

BP ENERGY OUTLOOK 2016 - 2035 

ROSNEFT: DEMAND WILL UP 

OIL MARKET BALANCE 

CHINESE LNG DOWN 

CHINA'S DEMAND WILL UP 4.3%

 

Tags: CHINA, OIL, IMPORT

Chronicle:

CHINA'S OIL IMPORTS DOWN
October, 16, 11:50:00

SAUDI ARAMCO IPO

Saudi Arabia is considering delaying the international portion of the giant initial public offering of its state oil company until at least 2019, according to people familiar with the situation, who said a domestic share sale in Riyadh could still happen next year.

CHINA'S OIL IMPORTS DOWN
October, 16, 11:45:00

SAUDI'S BANKS ARE BETTER

But we expect a rise in the sector's NPL ratio and muted credit demand in the second half of 2017 and 2018, reflecting the slowing economy. GDP growth slowed to 1.4% in 2016 from 3.4% in 2015 and we expect it to be below 1% in 2017 and 2018.

CHINA'S OIL IMPORTS DOWN
October, 16, 11:40:00

OPEC EXPECTATION

The Organization of Petroleum Exporting Countries and allies including Russia have been cutting oil production this year to bring fuel inventories in industrialized nations back in line with the five-year average.

CHINA'S OIL IMPORTS DOWN
October, 16, 11:35:00

JAPAN LNG INVESTMENT

The Japanese government will offer $10 billion to support firms bidding to build liquefied natural gas (LNG) infrastructure around Asia, the Nikkei business daily said on Monday.

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