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China's crude oil output down 2.3% in Jan

Feb. 27, 2012 (China Knowledge) - China saw the crude oil output for January decline 2.3% from a year earlier to 17.08 million tons, according to the National Development and Reform Commission (NDRC).

Last month, the country imported 22.85 million tons of crude oil, nearly flat compared with that of last year.

China processed 36.2 million tons of crude oil in January, which reflected a year-on-year increase of 1.9% or equivalent to 8.56 million barrels of crude oil per day, 7.7% less than 9.28 million barrels per day the country processed in December 2011, said Dow Jones Newswires.

The refined oil output for last month increased 4% year on year to 22.18 million tons, including 6.92 million tons of gasoline, up 6% year on year. The diesel oil output grew 1.5% from a year earlier to 13.57 million tons.

In January, China's consumption of refined oil products stood at 19.44 million tons, nearly unchanged from a year earlier but down 5.7% month on month. The consumption of gasoline increased 12% year on year to 6.77 million tons, while diesel oil output amounted to 11.02 million tons, down 7% from a year earlier.

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