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China's crude oil output hit 190 mln tons in 2008

(Xinhua)
Updated: 2009-01-30 11:41

BEIJING  -- China's crude oil output rose 2.3 percent year-on-year, the highest growth in three years, to 190 million tons last year, the China Petroleum and Chemical Association said Thursday.

Related readings:  China's oil product consumption up 12% in 2008  Sinopec's crude oil, natural gas output up slightly in 2008  China's crude oil import up 11% in first half  Oil falls to near $37 on gloomy demand outlook

China imported 179 million tons of crude oil in 2008, an increase of 9.6 percent from the previous year.

The imports accounted for 48 percent of the total crude oil demand in the world's second-largest energy user, 1.8 percentage points higher than that in the previous year.

When considering the imports of oil products, China relied on imports for nearly 51 percent of its oil demand, said Zhu Fang, deputy director of the association's information and market department.

China's consumption of oil products rose 11.9 percent to 215 million tons last year. The growth rate was 5 percentage points higher than that in 2007.

Zhu said the oil product demand will grow at a slower pace this year.

The government measures to boost domestic demand and lower oil prices will spur fuel consumption, but the growth will be limited by the economic slowdown, he added.

PetroChina has forecasted China's crude oil consumption will rise to 379 million tons this year. The demand for gasoline, diesel, and kerosene may climb to 64.4 million tons, 144 million tons and 13.1 million tons, respectively, said the oil giant.