China historically increased oil imports in 2018

China increased imports of oil and gas last year, the country's National Bureau of Statistics reports. In 2018, China imported 10.1% more oil. The volume of oil purchases reached 460 million tons. In December, imports grew by 30% compared to the earnings period of 2017. In the last month of the year, China imported more than 43 million tons of oil. At the same time, China reduced its oil production by 1.3%. Production decreased to 189.11 million tons in 2018 or 3.78 million barrels per day. Natural gas purchases increased by 31.9% in 2018 and exceeded 90 million tons. By contrast, gas production in China grew by 7.5% to 161 million cubic meters. Chinese authorities plan to increase oil and gas production in the country. Oil production will increase to 200 million tons. Natural gas production will reach 360 billion cubic meters, largely due to China’s desire to expand the use of clean energy.

22.01.2019
Related news

The confidence of German entrepreneurs in the country's economy grew in March

The German entrepreneur confidence index was 99.6 points in March, having risen from 98.7 points in February, the Ifo Institute reported. The index showed growth for the first time after a six-month decline and turned out to be better than ...
26.03.2019

Citigroup improved its forecast for the average annual price of Brent for 2019

In the March review, Citigroup improved its forecast for the average annual price of Brent crude for the current year from $64 to $70 per barrel, Bloomberg reported. Citigroup experts expect that in the second quarter, this sort of oil will ...
26.03.2019

Qatar Airways has postponed the delivery of the Boeing 737 MAX

Airline Qatar Airways decided not to replenish its fleet with Boeing 737 MAX airliners in April of this year, announcing the cancellation of the planned delivery until the reasons for the crash of this plane in Ethiopia were determined. As ...
26.03.2019

The head of the Federal Reserve Bank of Chicago notes a slowdown in the US economy, but considers a recession unlikely

The head of the Federal Reserve Bank of Chicago, Charles Evans, in an interview with CNBC during the Asian Investment Conference, Credit Suisse, commented on financial market concerns about the inverted yield curve. He noted that the flat yield ...
26.03.2019

OPEC + countries canceled April meeting in Vienna

The member countries of the OPEC + agreement to reduce oil production have made a formal decision to cancel the ministerial meeting scheduled for April in Vienna. This was reported to Bloomberg by OPEC delegates who wished to be unnamed. According ...
26.03.2019
Error
Get in touch with us