News Column

China Crude Oil Export Down, Finished Oil Import Up

July 29, 2014

BEIJING, July 29, SinoCast -- Data by the Generation Administration of Customs shows China's export of crude oil hit zero in the second quarter of this year. People in the circle said it failed to export any crude oil to North Korea from January to June and that was why the import dropped largely.

Amid a sharp fall in export, China continued expanding the import. It imported 282 million tons of crude oil in 2013 and produced 209 million tons in the meantime, with independent degree on imports hitting 57.39%. This March, it for the first time in four years became a net importer of finished oil products including gasoline and diesel. The situation happened in December 2009 and January 201, each.

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Source: Sinocast Energy Beat (China)

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