Oil and gas production up, coal production down in China

Companies operating in China's oil and gas sector increased oil production by 1.9% (107.05 million tons) and natural gas production by 6% (123.6 billion cubic meters) in the first half of 2024, according to the National Statistics Bureau of China, Report informs.

In June, average daily oil production reached 598,000 tons, while gas production was 670 million cubic meters. In six months, oil refining volume in China decreased by 0.4% to 360 million tons.

According to statistics, 275.48 million tons of oil (-2.3% YoY) and 64.65 million tons of natural gas (-14.3% YoY) were imported to the country in January-June. According to Chinese customs calculations, the country increased oil imports by 11% (563.99 million tons) and gas imports by 9.9% (119.97 million tons) in 2023.

At the same time, coal production (including lignite) decreased by 1.7% YoY to 2.27 billion tons in January-June. In June alone, coal production increased by 3.6% YoY to 410 million tons. Compared to May, it decreased by 0.8 percentage points.

Last month, the average volume of coal production in China was 13.51 million tons per day. In six months, the country imported 250 million tons of coal, 12.5% ​​more YoY.