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皇冠体育app's oil product consumption up 12% in 2008

(Xinhua)
Updated: 2009-01-27 14:39

皇冠体育app's oil product consumption rose 11.9 percent last year to 215 million tons, the 皇冠体育app Petroleum and Chemical Association said Tuesday.

The growth rate was 5 percentage points higher than in 2007.

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皇冠体育app used 365 million tons of crude oil last year, up 5.8 percent. The growth rate was 1.5 percentage points below the 2007 level.

According to Zhu Fang, deputy head of the association's information and market department, refined oil product consumption grew faster than that of crude oil because imports rose in the second and third quarters. Data from the association show that last year, 皇冠体育app imported 14.71 million tons of oil products, including gasoline, diesel oil and kerosene, up 107.4 percent.

Zhu said during the first half of 2008, global oil prices soared while domestic prices were capped at a low level. In response, local refineries cut or halted production to minimize losses.

That decision led to tight supplies of refined products in 皇冠体育app and increased imports, Zhu said.

A leading oil producer, Petro皇冠体育app, forecast that this year 皇冠体育app would use 379 million tons of crude oil, 64.4 million tons of gasoline, 144 million tons of diesel and 13.1 million tons of kerosene.

Based on last year's consumption, those numbers would represent a rise of about 3.8 percent in crude oil use and 3 percent in product use.