China imports record 163 mln tons of crude oil in 2007

BEIJING, Jan. 12 (Xinhua) — China’s crude oil imports rose 12.4 percent in 2007 over the previous year to a new record of 163.17 million tonnes, according to customs figure.

Crude oil imports for 2006 was 138.8 million tonnes, representing an increase of 16.9 percent from the previous year. The exports, however, fell 38.7 percent year-on-year to 3.89 million tonnes last year, according to the General Administration of Customs.


Crude oil exports were valued at 79.77 billion U.S. dollars, 20.1 percent more than a year earlier amid international oil price hikes. Global prices surged about 57 percent throughout last year.

China also imported 33.8 million tonnes of oil products in 2007,a decline of 7.1 percent from the previous year, although large oil producers increased oil product imports late last year following a fuel shortage reported in October.

Mathaba