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China’s June crude oil output down 2.3%

CHINA’S crude oil output fell 2.3 percent year on year in June, data from the National Bureau of Statistics showed yesterday.

Crude oil output came in at 15 million tons last month.

And 48 million tons of crude were refined, up 8 percent year on year. China is one of the world’s largest oil buyers, with over 60 percent of its oil consumption coming from imports.

The country imported 221 million tons of crude oil in the first half of the year.

This was up 5.8 percent from the same period last year.

Meanwhile, natural gas output in June totaled 12.18 billion cubic meters, gaining 5.6 percent year on year.

China aims to increase domestic crude oil output to 196 million tons by 2020.

Supply capacity for natural gas should exceed 360 billion cubic meters.

Major tasks for the oil industry include accelerating exploration to ensure domestic oil supply, speeding up construction of pipeline networks, and developing clean alternatives.