china crude oil imports drop to lowest in more than a year
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

China crude oil imports drop to lowest in more than a year

Arab Today, arab today

Arab Today, arab today China crude oil imports drop to lowest in more than a year

Lower imports reflected less purchases from independent refineries as many of them are running out of crude quota for this year
Beijing - Arab Today

China’s October crude oil imports slid to their lowest monthly level in 13 months, tumbling from a near record in September, as buying from independent refiners slowed with their import quotas draining away.
Data from the General Administration of Customs showed on Wednesday that imports stood at 31.03 million tons in October, or 7.3 million barrels per day (bpd), up from the same month a year earlier but well below about 9 million bpd in September.
“Lower imports reflected less purchases from independent refineries as many of them are running out of crude quota for this year,” said Li Yan, oil analyst with Zibo Longzhong Information Group.
The lower imports in October were a surprise, the analyst said, as crude demand usually picks up in the fourth quarter with refiners’ processing rates strong.
The import data came as China’s Commerce Ministry set its 2018 crude oil import quota for non-state companies at 142.42 million tons, an increase of more than 50 percent, with markets expecting China to buy more crude this year.
Meanwhile gas arrivals including pipeline imports and LNG shipments reached 5.81 million tons, retreating from September but up from only 3.82 million tons last year.
For the year to date, natural gas imports grew 25 percent to 54.16 million tons, higher than last year’s total import volume of 54 million tons and hitting a record.
Surging gas consumption from both residential households and the industrial sector has pushed up spot liquefied natural gas (LNG) prices and led to worries that the world’s largest energy consumer might faces winter shortages.
CNPC, one of the country’s largest gas producers, already plans to cut natural gas supplies to industrial users.

Source:Arabnews

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china crude oil imports drop to lowest in more than a year china crude oil imports drop to lowest in more than a year

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china crude oil imports drop to lowest in more than a year china crude oil imports drop to lowest in more than a year

 



GMT 09:00 2018 Wednesday ,12 December

May tours Europe in desperate bid to save Brexit deal

GMT 13:29 2018 Friday ,14 December

Turkey targets military over alleged Gulen links

GMT 10:03 2018 Monday ,10 December

23 Palestinians arrested in West Bank

GMT 09:12 2018 Wednesday ,12 December

Ford trains 1,600 motorists in Mideast, Africa in 2018

GMT 09:47 2018 Monday ,10 December

Russian ex-policeman convicted over 56 murders

GMT 18:56 2017 Wednesday ,30 August

Premier: BDF model in patriotic work

GMT 12:45 2017 Saturday ,18 March

German steel workers to get 4% wage hike by 2018

GMT 19:03 2017 Monday ,25 September

Demi Lovato to help war-scarred children in Iraq

GMT 18:42 2017 Friday ,24 February

Each governor develops plan

GMT 15:29 2017 Saturday ,17 June

Spain threatens to block Greece bailout payment

GMT 15:19 2017 Saturday ,25 November

UN official lauds UAE's development support in Somalia

GMT 06:40 2017 Saturday ,30 December

Beaten Windies say one bad

GMT 11:15 2017 Friday ,29 December

Interior Minister receives Azerbaijani ambassador

GMT 09:01 2015 Sunday ,30 August

Building block of quantum computers from light

GMT 10:41 2016 Monday ,08 February

Truck maker Volvo offloads costs for big profit rise
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday