China’s crude oil output dips

February 26th, 2012 - 2:37 pm ICT by IANS  

Beijing, Feb 26 (IANS) China’s crude oil output slid 2.3 percent year-on-year in January to 17.08 million tonnes as the New Year holiday reduced workdays, the country’s top economic planner said.

The country’s imports of crude oil reached 22.85 million tonnes last month, nearly flat compared with that of last year, the National Development and Reform Commission (NDRC) said in a statement on its website.

The country produced 22.18 million tonnes of refined oil, up 4 percent from one year ago. Its apparent consumption of refined oil hit 19.44 million tonnes, with the averaged daily consumption in January down 5.7 percent from the previous month, reported Xinhua.

The figures were affected by the Chinese Lunar New Year holiday, which fell in January this year and cut four workdays off the month compared with January of 2011, according to the NDRC. The Lunar New Year holiday fell in February in 2011.

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