China Crude Processing to Rise 5% in 2012, Federation Says
Saturday, 14 January 2012 | 00:00
China will probably increase its crude-processing volume by 5 percent to 470 million metric tons this year and lift crude output by 1.5 percent to more than 200 million tons, the China Petroleum and Chemical Industry Federation said Friday.
The nation's apparent crude consumption is expected to rise 5.3 percent to 480 million tons and apparent oil-product consumption may advance 5.8 percent to 280 million tons, the group said in a statement on its website.
Natural-gas production will probably increase 11 percent to 113 billion cubic meters while apparent consumption will gain 15.3 percent to 148.2 billion cubic meters, it said.
The federation didn't say how it calculates apparent consumption, which is typically defined as the sum of domestic output and net imports.
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