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China's daily crude output in Sep drops to lowest in 2011: NBS

Increase font size  Decrease font size Date:2011-10-28   Views:611
China's daily crude output dropped to about 0.54-mil mt (3.96-mil barrels) a day in September, the lowest level in 2011, according to the data from the National Bureau of Statistics.

The country produced 16.29-mil mt of crude in the month, down by 4.80% from the previous month or 5.33% from a year ago, the data showed.

China's crude output dropped further in September as production in the Penglai 19-3 oilfield was suspended as from Sep 2 because of deteriorating leakage accident. This resulted in a drop of about 62,000 barrels of daily output and weakened the year-on-year growth in the country's crude output in January-September.

The country produced 153.61-mil mt of crude in the first nine months, merely up by 2.19% from the same period in 2010.

China will probably see a slower year-on-year growth in January-October if the Penglai 19-3 oilfield does not resume production yet. This is likely to lead to heavier dependence on foreign crude when there is little refinery maintenance.

 
 
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