China's Jul crude oil imports fall 15% on month to 19-mil mt: GAC

https://www.chemnet.com   Aug 11,2010

China's crude oil imports in July fell to 19-mil mt, down 14.68% from the previous month, 3.21% lower than a year earlier, according to data from the General Administration of Customs.

Market sources ascribed the on-month drop to less crude oil throughput of state-owned refiners Sinopec and PetroChina, both of which had refineries under maintenances in July.
Crude oil imports in the first seven months added up to 137-mil mt, up 24% year-on-year, the data showed.

Chinese major refineries were stepping up their crude oil consumption this year, which explained the year-on-year rise, the sources denoted.

China exported 170,000mt of crude oil in July, up 30.77% on month, down 60.47% year-on-year; crude oil exports aggregated 1.31-mil mt from January to July, sharply down 56.33% year-on-year, the GAC data also indicated.

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