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China's dependency on foreign crude expected to remain in excess of 70%

作者:admin 2020-12-08

China's dependency on foreign crude expected to remain in excess of 70%

Photo: VCG


China imported 504 million tons of crude oil from January to November, according to data released by the General Administration of Customs, which means that China's dependency on foreign crude oil is expected to continue to exceed 70 percent this year.

China's crude imports increased 9.5 percent year on year to 504 million tons in the first 11 months, while the National Bureau of Statistics said China produced 160 million tons of crude oil in the first ten months.

"This year, China's oil demand is growing amid the
COVID-19 pandemic while the growth of domestic crude oil production is limited, so China's dependency on foreign crude is expected to continue to exceed 70 percent," a veteran expert told the Global Times on Monday, on condition of anonymity.

Natural gas imports reached 90.43 million tons, up 3.9 percent year on year, as China continues to promote coal-to-gas switching projects. 

China's coal imports hit 265 million tons, down 10.8 percent year on year, according to Chinese customs, as the country has been cutting coal from its energy mix as part of efforts to protect the environment.

Global Times



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