 "oil refinery, crude oil, oil")
China's refinery output fell 3.3 per cent in April from a year earlier, the first annual decline in 20 months, as large refiners carried out regular maintenance and small independent plants curbed production due to thin profit margins.
Refinery throughput was 58.79 million metric tons, according to data from the National Bureau of Statistics (NBS) on Friday, equivalent to 14.3 million barrels per day (bpd).
That's lower than 15.09 million bpd in March and 14.45 million bpd for the January-February period.
The 3.3 per cent fall was the first year-on-year decline since August 2022, according to Reuters' records of NBS data.
State-run refineries such as Sinopec's Zhanjiang and Zhenhai refineries, as well as large independent refiner Dalian Hengli Petrochemical underwent planned maintenance in April, according to Chinese commodities consultancy Oilchem.
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Smaller independent processors operated at less than 55 per cent of capacity in April, down some 10 percentage points from a year earlier, Oilchem's data showed.
Throughput for January to April inched up 1.1 per cent from a year earlier to 241.26 million tons, or 14.56 million bpd, the data showed, reflecting a pick up in economic activity as more people travelled and so increased use of gasoline and aviation fuel.
State refining giants Sinopec and PetroChina both reported strong year-on-year fuel sales growth in the first quarter, domestically and for exports, as they cashed in on firm regional refining margins.
Jet fuel sales led the expansion followed by gasoline, though diesel fuel lagged as China's prolonged property woes cut into the use of the fuel for construction.
Passenger air traffic rose 1.84 per cent year-on-year in April to 800,990 flights, a level about 4 per cent higher than April of 2019 before COVID, according to civil aviation data provider Variflight.
While domestic flights last month dipped year on year, international flights more than doubled to 55,672, although they remained 30 per cent lower than April 2019, the data showed.
NBS data showed China's crude oil production in April rose 1.3 per cent from a year earlier to 17.47 million tons, or about 4.25 million bpd. Year-to-date, output was up 2.1 per cent on year at 70.95 million tons, or 4.28 million bpd.
Natural gas production grew 3.2 per cent last month to 19.8 billion cubic metres (bcm), and output between January and April rose 5 per cent at 83 bcm.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
