Stable crude coal production and slow natural gas production

Today, the National Bureau of Statistics website released the energy production in October 2019. In October, the production of industrial raw coal and crude oil above designated size was stable, while the production of natural gas and electric power slowed down. First, the production of raw coal increased steadily, and the growth rate of coal import fell back. In October, the output of raw coal was 320 million tons, an increase of 4.4% year-on-year, and the growth rate was the same as that of last month. The average daily output was 10.48 million tons, a decrease of 320000 tons month on month. From January to October, the output of raw coal was 3.06 billion tons, up 4.5% year on year. In October, coal import was 25685000 tons, up 11.3% year on year, down 9.3 percentage points from last month; from January to October, coal import was 280 million tons, up 9.6% year on year. Coal prices fell slightly. On November 1, the comprehensive transaction prices of 5500, 5000 and 4500 kcal coal in Qinhuangdao Port were 565, 505 and 453 yuan per ton, respectively, down 5, 4 and 3 yuan from the end of September. In October, crude oil production was 16.11 million tons, basically the same as that of the same period last year; daily average output was 520000 tons, down by 11000 tons on a month on month basis. From January to October, crude oil production reached 159250000 tons, up 1.1% year on year.

In October, crude oil imports reached 45.51 million tons, up 17.1% year-on-year, 6.3 percentage points higher than last month. From January to October, crude oil imports reached 414.545 million tons, up 10.5% year on year. In October, the international crude oil price fluctuated and fell. On October 31, the spot FOB price of Brent crude oil was $59.3/barrel, down $1.69 from September 30. In October, processing crude oil reached 57.84 million tons, a year-on-year increase of 9.2%, a slowdown of 0.2 percentage points over the previous month; daily average processing reached 1.866 million tons, a decrease of 17000 tons on a month on month basis. From January to October, 537.1 million tons of crude oil were processed, up 6.4% year on year. (4) natural gas production slowed down. In October, natural gas production was 14.6 billion cubic meters, a year-on-year increase of 8.2%, 2.4 percentage points slower than that of last month. The average daily output was 470 million cubic meters, a month on month increase of 20 million cubic meters. From January to October, natural gas production reached 142.3 billion cubic meters, up 9.3% year on year. In October, the import of natural gas was 6.52 million tons, down 10.6% year on year. The growth rate changed from positive to negative, up 8.0% last month. From January to October, natural gas imports reached 77.71 million tons, up 7.9% year on year. 5. Power production slowed down slightly in October, generating 571.4 billion kwh, a year-on-year increase of 4.0%, a slowdown of 0.7 percentage points compared with last month; average daily generating 18.43 billion kwh, a decrease of 1.26 billion kwh on a month on month basis. From January to October, power generation reached 5.9 trillion kwh, up 3.1% year on year. In terms of varieties, in October, the growth rate of thermal power production slowed down slightly, the decline rate of hydropower expanded, nuclear power and solar power dropped, and wind power turned from negative to positive. Among them, thermal power increased by 5.9% year-on-year, 0.1% slower than last month; hydropower decreased by 4.1%, 3.0% larger; nuclear power and solar power increased by 5.4% and 3.0%, 12.5% and 16.4% lower respectively; wind power increased by 10.0%, 7.9% lower last month.