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China's crude oil production in H1 declines 1%

CHINA'S crude oil output hit 93.49 million tons in the first half this year, a drop of 1 percent year on year, the country's economic planner said yesterday.

China's refineries processed 175.13 million tons of crude oil in the first six months, up 1.5 percent from the same period last year, the National Development and Reform Commission said in a report on its Website.

Gas output reached 42 billion cubic meters, a jump of 7.6 percent year on year. The growth was 9.7 percentage points lower than the same period last year.

In the first five months, China's petroleum and petrochemical industry reported profits of 94.7 billion yuan (US$13.9 billion), down 35.4 percent over the same period last year, the report said.

Oil and gas exploration firms' profit dived 75.8 percent from a year ago to 49.4 billion yuan in the first half.


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