China's crude production growth accelerates in August, natural gas slows down

China's National Bureau of Statistics released on September 15, data show that in August, above-scale industrial production of raw coal production narrowed down, crude oil, electricity production growth accelerated, natural gas production has slowed down.

Raw coal production narrowed. in August, the production of 330 million tons of raw coal, down 0.1% year-on-year, down 3.6 percentage points narrower than last month; average daily output of 10.51 million tons, an increase of 250,000 tons. 1-8 months, the production of 2.45 billion tons of raw coal, down 0.1% year-on-year.

Coal import decline continued to expand.In August, imported coal 20.66 million tons, a decrease of 5.44 million tons, down 37.3% year-on-year, a decline of 16.7 percentage points from last month; from January to August, imported coal 220 million tons, an increase of 0.2% year-on-year.

Port coal composite trading prices continued to fall. 28 August, Qinhuangdao Port, 5500 kcal, 5000 kcal and 4500 kcal coal prices were 551 yuan per ton, 497 yuan and 442 yuan per ton, down 4 yuan, 6 yuan and 6 yuan from July 31, respectively.

In August, the production of crude oil 16.65 million tons, up 2.3% year-on-year, the growth rate was 1.7 percentage points faster than last month; processed crude oil 59.47 million tons, up 9.2%, 3.2 percentage points slower than last month.From January to August, the production of crude oil 131.05 million tons, up 1.5% year-on-year; processed crude oil 4.4 billion tons, up 3.2 percent year-on-year.

The growth rate of crude oil imports fell back, international crude oil prices rose slightly.In August, 47.48 million tons of imported crude oil, up 12.6% year-on-year, a 12.4 percentage point slowdown from last month.From January to August, 370 million tons of imported crude oil, up 12.1% year-on-year.The spot FOB price of Brent crude oil on August 28 was $45.22/barrel, up 12.4% from July, and the price of crude oil was $45.22/barrel. It was up 4.8% at $43.13/bbl on 31 August.

Natural gas production slowed down.In August, 14.2 billion cubic meters of natural gas was produced, up 3.7% year-on-year, the growth rate slowed down 1.1 percentage points from last month; the average daily output of 460 million cubic meters, the same as last month.In January-August, 12.5 billion cubic meters of natural gas was produced, up 8.8% year-on-year.

The growth rate of natural gas imports turned from negative to positive.In August, 9.36 million tons of imported natural gas, up 12.3% year-on-year, down 6.4% last month.In January-August, 65.07 million tons of imported natural gas, up 3.3% year-on-year.

Electric power production faster growth.In August, the power generation 723.8 billion kwh, up 6.8% year-on-year, growth rate of 4.9 percentage points faster than last month; average daily power generation 23.35 billion kwh, an increase of 1.41 billion kwh.From January to August, the power generation 477.28 billion kwh, an increase of 0.3% year-on-year.

In August, the growth rate of thermal power and solar power turned from negative to positive, while that of hydropower accelerated, and that of nuclear power and wind power fell back. Among them, thermal power year-on-year growth of 6.2%, down 0.7% last month; solar power growth of 2.1%, down 0.6% last month; hydropower growth of 8.9%, the growth rate of 2.8 percentage points faster than last month; nuclear power growth of 0.9%, down 5.8 percentage points; wind power growth of 18.7%, down 4.5 percentage points.