China refinery throughput near record

China

BEIJING, March 14, 2017 – Refinery throughput data for the first two months of 2017 released on Tuesday showed processing at near-record levels.

Measured over January and February, throughput came out at 11.23 million bpd, up 4.3% over the same period in 2016. In December of that year, Chinese refineries processed 11.26 million bopd, the country’s all-time high.

Oil output was down 8% year-on-year to 3.89 million bopd, mainly due to disappointing performances on the part of China Petroleum & Chemical Corporation, which at 693,150 bopd produced 15% less in 2016, and the Daqing oilfield. Output from the mature asset fell by 4.8% last year.

The National Bureau of Statistics said 2016 gas production was level compared with the year prior at 25.1 bcm (886.3 bcf).