2022-01-18 13:00:00
CHINA OIL IMPORTS DOWN BY 5%
ENERDATA - 17 Jan 2022 - In 2021, China imported 513 Mt of crude oil (-5.4% compared to 2020), 27 Mt of refined products (-4%), 323 Mt of coal and lignite (+6.6%) and 121 Mt of natural gas (+19.9%), according to provisional figures from the country's General Administration of Customs. In addition, the country exported 60 Mt of refined products (-2.4%). This is the first time crude oil imports are declining on year-on-year basis since 2001, as China clamped down on the refining sector to avoid excess domestic fuel production, while refiners reduced inventories. The 2021 decline can be related to rising crude oil price, a "backwardated" market structure - where prompt delivery prices are higher than those in future months - and the government's strategy to cool commodities markets.
China was the world's largest importer of crude oil in 2020, with 543 Mt. In 2020, China imported crude oil mostly from Saudi Arabia (16%), Russia (15%), Iraq (11%), Brazil (8%), Angola (8%), Oman (7%), United Arab Emirates (6%) and Kuwait (5%).
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Earlier:
2022, January, 14, 12:00:00
CHINA OIL IMPORTS RISE TO 10.9 MBD
The country's total crude imports averaged 10.3 million b/d in 2021, falling 5.4% year on year amid destocking activities.
2022, January, 12, 10:20:00
CHINA GAS DEMAND WILL UP
National oil company Sinopec expects Chinese natural gas demand to reach 395 Bcm in 2022, up 7% from an estimated 370 Bcm in 2021, according to its research arm, Sinopec Economics & Development Research Institute.
2021, December, 17, 12:35:00
CHINA LNG IMPORTS GROWTH
China’s LNG imports have grown steadily every year since 2006 (when China began importing LNG), except in 2015. In 2017, China became the world’s second-largest LNG importer, surpassing South Korea.
2021, December, 3, 11:40:00
CHINA GREEN DEVELOPMENT 2060
The world's top greenhouse gas emitter is aiming to bring its carbon emissions to a peak by 2030 and become "carbon-neutral" by 2060.
2021, November, 24, 11:50:00
CHINA GAS SUPPLIES GROWTH
China has been ramping up gas supply from all sources including pipeline gas contracts with Central Asia.
2021, November, 23, 12:00:00
CHINA'S CARBON MANAGEMENT
China's total trading volume of greenhouse gas voluntary emissions reduction had exceeded 334 million mtCO2e, with turnover approaching Yuan 3 billion (approx. $469 million),
2021, October, 19, 12:30:00
CHINA NEED COAL, GAS
Temperatures have dropped sharply in many parts of northeast and northwest China, state media said. In Heilongjiang, all heating systems have been opened, and heating companies in Harbin city began supplying heat 4 days earlier than normal, Yulin in Shaanxi province is 10 days ahead of schedule, and Datong in Shanxi province started 13 days earlier than previous years.
