Refined Oil Yield Up but Crude Turnout Down

The crude oil turnout of China stepped down 1.1 percent year on year in May but its crude oil processing went up 10.7 percent, according to the National Development and Reform Commission (NDRC). In particular, its gasoline and diesel oil production separately rose 30.1 and 9.7 percent. Its natural gas turnout climbed up 6.9 percent 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 percent 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 percent to 74.16 million tons, compared with the growth of 1.7 and 12.7 percent a year earlier, respectively. The country processed 143.25 million tons of crude oil, inching up 0.9 percent. Its gasoline turnout went up 15 percent but diesel oil output stepped down 1.5 percent. The petroleum and chemical industry gained profits of CNY 153.2 billion, including CNY 94.74 billion by petroleum and petrochemical companies and CNY 58.49 billion by the chemical sector. (June 29, 2009)