According to NDRC, China produced 2,074,800,000 tons crude oil, growing by 1.9% over last year; imported 2,710,900,000 tons crude, growing by 7.3%; exporting crude oil 2,440,000 tons, falling by 3.5%. Apparent consumption of crude oil is 47,613,000 tons and external dependence rate is 56.4%.
In 2012, China's apparent consumption of product oil is 2,766,400,000 tons, growing by 5.2%. Among them, apparent consumption of gasoline is 868,400,000 tons, kerosene is 20,950,000 tons and diesel oil is 169,730,000 tons. Influenced by popularity of family car, rapid development of aircraft industry, consumption of gasoline and kerosene have grown rapidly. Overall, with the updated oil quality project coming on stream, pressure on product oil’s supply will be eased in 2013.
Written by Nicolas Yang
