Consumption Expenditure News
- Production, consumption of oil hit new records in first half
Date: 27-Jul-2007 Sources: (People's Daily)
China's fast-moving economy had pushed up both the production and consumption of oil in the first half of this year. Figures from the State Statistics Bureau showed that in the first six months of 2007 China turned out 93.31 million tons of crude oil, up 1.7 percent year on year, and 95.972 million tons of finished oil, up 7.2 percent.
Compared with the same period of last year, although the growth rate of crude oil production dropped 0.4 percentage points, the absolute volume hit another historical high. Finished oil grew at a pace 1.6 percentage points faster over last year, also creating a record.
During this period China had a net import of 79.72 million tons of crude oil, up 13.4 percent, and 10.14 million tons of finished oil, down 15.7 percent, according to latest customs statistics.
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