China’s crude oil output up 0.9pc in August

BEIJING, Oct 08 (Xinhua): China's crude oil output edged up 0.9 per cent year on year in August, data from the National Development and Reform Commission showed.

Crude oil output came in at 16.1 million tonnes during the period, which saw 48.9 million tonnes of crude refined, up 0.4 per cent year on year.

China is one of the world's largest oil purchasers, with about 60 per cent of its oil consumption coming from imports.

In August, China consumed 28.41 million tonnes of refined oil products, up 5.9 per cent year on year.

Meanwhile, natural gas output totaled 12.8 billion cubic meters, gaining 9.6 per cent year on year.

China aims to increase domestic crude oil output to 200 million tonnes by 2020, while supply capacity for natural gas should exceed 360 billion cubic metres.

Major tasks for the oil industry include accelerating exploration to ensure domestic oil supply, speeding up construction of pipeline networks and developing clean alternatives.