Learn Chinese online - Energy: China spends an extra US$15.2b on oil import last year

BIZCHINA / Biz Media Digest

Energy: China spends an extra US$15.2b on oil import last year

(Xinhua)
Updated: 2007-01-15 10:51

Soaring oil price on world market has made Chinese companies spend an
additional 15.2 billion U.S. dollars on buying oil from abroad last year,
according to figures released by the General Administration of Customs on
Sunday.

The administration statistics showed that the price of imported crude oil
stood at 457.44 U.S. dollars per ton last year, up 81.14 dollars from a
year earlier.

China imported 145.18 million tons of crude oil last year, a year-on-year
increase of 14.5 percent, statistics showed.

"If calculated at the price of 2005, Chinese companies spent an extra
11.78 billion U.S. dollars on crude oil import in 2006," said the
administration.

Statistics showed that the average price for refined oil products went up
95.77 U.S. dollars per ton in 2006 compared with the 2005 figure.

China's import of oil products went up 15.7 percent to 36.38 million tons
last year, resulting in extra expenses of 3.48 billion U.S. dollars.

China is the third largest oil importer in the world after the United
State and Japan.

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