2022-01-14 12:00:00
CHINA OIL IMPORTS RISE TO 10.9 MBD
PLATTS - 14 Jan 2022 - China's crude imports rose 19.9% on the year to 10.91 million b/d in December 2021, data from the General Administration of Customs showed Jan. 14, as independent refineries tried to use up new crude import quotas allocated in November.
The imports in December were up 6.8% from November and represented a second continuous month-on-month recovery from the 39-month low of 8.94 million b/d seen in October.
The country's total crude imports averaged 10.3 million b/d in 2021, falling 5.4% year on year amid destocking activities.
The GAC releases data in metric tons, which S&P Global Platts converts to barrels using a 7.33 conversion factor.
On a metric tons basis, crude inflows in December 2021 rose 10.4% month on month to 46.14 million mt. Import volumes for the whole year stood at 512.98 million mt.
China exported 3.23 million mt of oil products in December, a fall of 45.3% year on year to a 17-month low, GAC data showed, as oil companies ran out of export quotas.
In 2021, the oil product outflow volume declined 2.4% to 60.31 million mt as the reduction in gasoline, gasoil and jet fuel exceeded the increase in bonded bunker fuel oil supplies.
As a result, China's net oil product exports fell 1.1% to 33.18 million mt in 2021.
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Earlier:
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, 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, 8, 12:10:00
CHINA OIL IMPORTS DOWN
To ensure domestic oil products supplies by preventing a significant drop in throughput, Chinese refineries had to draw crude inventory in October.
2021, November, 3, 12:05:00
CHINA LNG PRICES UP
China's overall trucked LNG price averaged Yuan 7,813/mt across the entire country Nov. 1, up 14% from Oct. 25 and 32% higher than early October, data from Shanghai Petroleum and Gas Exchange showed.
2021, October, 28, 13:55:00
CHINA GAS DEMAND WILL UP 10%
Chinese energy firms and government researchers expect a significant increase in gas demand for power generation and industrial sectors this winter as a nationwide coal supply crunch and power outtages drive up demand for alternative fuels.
2021, October, 21, 15:20:00
CHINA PIPELINE GAS IMPORTS UP
China's pipeline gas imports have been setting new records in the past three months, and September was the fourth consecutive month-on-month increase since June, the customs data showed.
