China has imported record oil volumes due to low prices
Edited by Rhod Mackenzie / 2016-01-13 06:41:29
In 2015 China imported a record oil volume on the background of low prices for hydrocarbons.
In 2015 the oil storages were filled hastily on the background of the lowest prices for raw materials for the past decade.
The import of China grew in 2015 by 8.8% having reached 334 mln tons.
On average daily the country imported about 6.7 mln barrels.
Oil import allows China to increase its reserves. The demand rises due to the independent oil processing companies.
In 2016 China plans to put into operation 4 strategic reservoirs.
13 independent oil refinery plants have the total quota for the import of 55 mln tons of oil.
In 2016 oil import of China might reach 370 mln tons.
