China increases oil and gas imports in 2024

In January-February 2024, China increased the volume of oil and natural gas imports by 5.1% and 23.6%, respectively, the General Customs Administration of the People's Republic of China said.

During the reporting period, China imported 88.3 million tons of oil. In price terms, the purchase of crude oil abroad cost China $51.3 billion, which is 2.8% more year-on-year.

The volume of natural gas imports in the first two months of 2024 amounted to 22.1 million tons worth $11.32 billion (5.5% down YoY).

Coal imports in January-February amounted to 74.51 million tons (22.9% YoY) and cost China $7.93 billion (5.1% less YoY).

At the end of 2023, China increased oil imports by 11% - to 564 million tons of oil, natural gas imports increased by 9.9% - to 119.97 million tons, and coal imports amounted to 474.41 million tons (an increase of 61.8 % YoY).





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