NDRC: Refined Oil Yield Up but Crude Turnout Down

The crude oil turnout of China stepped down 1.1% year on year in May but its crude oil processing went up 10.7%, according to the National Development and Reform Commission (NDRC). In particular, its gasoline and diesel oil production separately rose 30.1 and 9.7%. Its natural gas turnout climbed up 6.9% from a year earlier, 5.1 percentage points slower. From January to May, China produced 34.8 billion cubic meters of natural gas with a growth of 7% from a year earlier, 10.7 percentage points slower. Its crude oil output slipped 0.9 percent year on year to 77.78 million tons, and import fell 2.4% to 74.16 million tons, compared with the growth of 1.7 and 12.7% a year earlier, respectively. The country processed 143.25 million tons of crude oil, inching up 0.9%. Its gasoline turnout went up 15% but diesel oil output stepped down 1.5%. The petroleum and chemical industry gained profits of RMB153.2 billion (US$22.42 billion), including RMB94.74 billion (US$13.87 billion) by petroleum and petrochemical companies and RMB58.49 billion (US$8.56) by the chemical sector. (June 29, 2009)