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Thursday, 25 February 2010
China sees robust growth in net crude oil imports.
China, the second-largest oil consumer in the world, will see net crude oil imports rise rapidly over the next two or three months,
due to strong demand for oil products amid faster economic growth, the official Xinhua News Agency “Xinhua” redirects here. For
other uses, see Xinhua (disambiguation).
China's net crude oil imports are expected to grow about 40% year on year to 19.5 million tons monthly or about 4.8 million
barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of
crude oil (measured in barrels) produced or consumed by an entity in one day. , according to prep.
The country's monthly oil refining volume is expected to increase 20% from a year earlier to 33.5 million tons by the end of
April, said an industry expert from PetroChina.
Newly-operated oil storage facilities and pipelines will also help boost the country's crude oil imports, said the report.
China's monthly crude oil output is estimated to rise to 15.6 million tons during the period.
Official data show that China's daily crude oil imports were 5 million tons in December and its oil processing volume hit
record of 34.59 million tons in the month.
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