Arab Today, arab today china\s crude oil imports up 182
Last Updated : GMT 18:19:32
Arab Today, arab today
Arab Today, arab today

China\'s crude oil imports up 18.2%

Arab Today, arab today

Arab Today, arab today China\'s crude oil imports up 18.2%

Tokyo - KUNA

China\'s crude oil imports jumped 18.2 percent in May from a year earlier to a record high of 25.48 million tons, or 6.03 million barrels a day (bpd), according to latest data released by the Chinese government. Crude oil imports also grew 14.5 percent from April\'s 22.26 million tons (5. 44 million bpd), the General Administration of Customs said on its Website. In the first five months of this year, China imported 118.35 million tons (5.71 million bpd), up 11.31percent from the same period of 2011. The import-dependency rate of China, the world\'s second-biggest energy importer after the US, stood at 56.7 percent in 2011, up from 54.8 percent in 2010, the Ministry of Land and Resources said last month. Oil consumption climbed 2.5 percent year-on-year to 8.94 million bpd in 2011, while crude oil output inched up 0.5 percent to 4.10 million bpd, according to the ministry. Financial input for prospecting oil and natural gas rose 6.9 percent in 2011 from a year earlier.

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