Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » China’s crude oil imports in Oct fall to lowest in three years

    China’s crude oil imports in Oct fall to lowest in three years

    November 7, 2021
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Crude oil trading terminal of Qingdao Port, China

    Beijing — China’s crude oil imports plunged in October to the lowest since September 2018, as large state-owned refiners withheld purchases because of rising prices while independent refiners were restrained by limited quotas to import.

    The world’s biggest crude oil importer brought in 37.8 million tonnes last month, data from the General Administration of Customs showed on Sunday, equivalent to 8.9 million barrels per day (bpd).

    That is down from 9.99 million bpd in September and 10.02 million bpd in the same period last year.

    Over the January-October period, crude arrivals totalled 425.06 million tonnes, or 10.21 million bpd, down 7.2% year-on-year, the customs data showed.

    Crude imports were down on a monthly basis for a second month and the decline has occurred amid a 62% jump in crude oil prices this year as economies open globally from COVID-19 pandemic restrictions, spurring fuel demand.

    Beijing’s crackdown on illicit trading in crude oil quotas and import allowances for independent oil refiners also weighed on purchases.

    Customs data on Sunday also showed China’s refined oil product exports for October fell 31.8% on-year to 3.95 million tonnes.

    Natural gas imports, including piped and liquefied natural gas (LNG), were 9.38 million tonnes in October, up 24.6% from a year earlier.

    Oil imports may be set to rise in November as refiners have vowed to address a shortfall in diesel and gasoline supplies that has pushed fuel prices higher. read more

    Additionally, Beijing has issued 14.89 million tonnes of crude oil import quotas for independent refiners for the remaining period of 2021, and China’s Zhejiang Petrochemical Corp (ZPC), operator of China’s single largest refinery, has separately received a quota of 12 million tonnes.

    *Muyu Xu and Chen Aizhu – Reuters

    Related News

    Despite NPA’s intervention, export cargoes still stuck at EPTs for days

    Crude oil rebound reflects optimism over the U.S.-China dialogue

    Stakeholders hail PINL’s achievements in protecting TNP

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    Nigeria advocates for global financial reform at 2025 UN Meetings

    May 9, 2025

    China pushes ahead in battery technology race

    May 9, 2025

    Gold rose amid geopolitical risks, investors await trade developments

    May 9, 2025

    Despite NPA’s intervention, export cargoes still stuck at EPTs for days

    May 9, 2025

    Nigeria recommits to fostering enabling environment for inclusive prosperity

    May 8, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.