China: gasoline production per month 2019-2020

The statistic shows gasoline production in China from January 2019 to February 2020. In first two months of 2020, around 20 million metric tons of gasoline had been produced in China.

Fossil fuel market in China

Since China’s reform and opening up, economic growth has been the primary goal of the country’s economic policy. Therefore, the proposition of economic rise has made considerable demands on energy consumption.
The country possesses abundant coal resources and consequently, coal has played a major part in China’s primary energy consumption. In 2014, about two thirds of the primary energy mix in China had been composed of fossil fuels such as coal, oil, and gas. In order to maintain its growth momentum and hedge supply risks, China had to invest in the extraction of other fossil fuel. Since the 1980s, oil production in China has been expanded continuously.
In 2014 alone, an average of more than four million barrels of oil had been produced per day in China. This significant increase in Chinese crude oil production, however, could not keep up with an even faster growing domestic oil demand. Oil consumption in China had amounted to approximately 11 million barrels per day. This imbalance makes China highly dependent on oil imports. Crude oil worth over 1.4 billion yuan had been imported into China in 2014. Main oil export partners of China were Saudi Arabia and Angola.

The fuel market in China is dominated by large state-owned enterprises, particularly the “Big Three”, namely Sinopec, Petrochina and CNOOC. As of 2015, Sinopec had ranked first among the global top 10 oil and gas companies, with an annual revenue of about 433 billion U.S. dollars.

Gasoline production in China from January 2019 to February 2020

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Source

Release date

April 2020

Region

China

Survey time period

January 2019 to February 2020

Supplementary notes

*According to the source, the values from January and February have been grouped together to curb the influence of the Chinese New Year on the statistic. Chinese New Year falls between January 21 and February 21.

The values have been rounded to provide a better understanding of the statistic.

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