China crude oil output down, coal output soars

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Dec 2009

China’s crude oil output dropped in November this year while its coal output recorded a robust growth during the same period, according to country’s Industry and Information Technology Ministry. In a statement issued here the ministry said, country’s crude oil output slid 1.1% year on year to 15.67 million tons while coal output was 2.71 billion tons, up 12.6% from the same period of last year.
China imported 17.12 million tons of crude oil last month, up 28.1% from the corresponding period of last year.
In November, China processed 33.36 million tons of crude oil, 21% more than in the same period of last year. The growth was 10.6 percentage points higher than that of October.
In the first 11 months of this year, the China’s crude oil output amounted to 170 million tons, down 0.5% year on year, while its crude oil imports rose 10.9% to 180 million tons.
China processed 340 million tons of crude oil in the period from January to November, 6.4% more than in the same period of last year.
China produced 290 million tons of coal in November, representing a robust growth of 26.3% year on year.
China’s coal output in the first 11 months of this year was 2.71 billion tons, up 12.6% from the same period of last year, said the ministry.
The country's coal exports last month plunged 46.7% year on year to 1.43 million tons, while its coal imports skyrocketed five times to 12.65 million tons.
The price of standard coal with calorific value of 5,500 kcal/kg at Qinhuangdao port rose to around 690 yuan per ton in November, 55 yuan more than a month ago.

Source: Commodity Online