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China’s Oct gasoline output up 8% on year, gasoil down 8% on year

China’s gasoline production was up by 8.2% year on year in October, while gasoil output was down 7.9% year on year last month, showing a completely different trend, the latest data released by the National Bureau of Statistics showed Monday. The total production of LPG, naphtha, gasoline, jet fuel/kerosene, gasoil and fuel oil was broadly unchanged year on year in October amid a growth of 4.6% for crude throughput last month, S&P Global Platts calculations based on the NBS data showed.

Total output for the six major oil products was 39.90 million mt in October, compared with 39.88 million mt in October 2017, the calculation showed.

Among the six major oil products, LPG production continued registering the highest year-on-year growth of 13.3% to 3.5 million mt in October.

Gasoline output showed the second highest year-on-year increase of 8.2% to 12.4 million mt last month.

Naphtha output rose 6.1% year on year to 3.1 million mt in October, while jet fuel/kerosene production climbed up 2.7% year on year to 3.9 million mt last month.

Gasoil production however, fell 7.9% year on year to 14.93 million mt in October, and it was the fifth consecutive year-on-year decline since June, NBS data showed.

Fuel oil output fell 14% year on year to 2.03 million mt in October, the eighth consecutive year-on-year drop since March this year, NBS data showed. NBS did not release oil products output data for January and February.

On month-on-month comparison, except for Jet fuel/kerosene and fuel oil production which fell by 5.9% and 2.8%, respectively, from September, output for the other four major products were all higher from last month due to one more calendar day in October, according to NBS data.

In the first ten months of 2018, jet fuel/kerosene production continued to register the highest year-on-year jump of 13.1% to 39.86 million mt.

LPG output saw the second highest year-on-year growth of 10.6% over January-October, while gasoline and naphtha production also rose 6.7% and 3.7% year on year in the first ten months of 2018, respectively.

However, gasoil output showed a year-on-year decline of 1.1% over January-October, and fuel oil production saw a year-on-year fall of 10.8% in the first ten months, despite a growth of 7.8% for crude throughput in the same period, the data showed.

NBS typically releases key output data for oil products on a monthly basis, but does not include explanations for the changes.
Source: Platts

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