C1 Energy (Shanghai) – Mar 10, 2010 －－－China imported 35.62-mil mt of crude in the first two months of 2010, up 45% from the same period last year, according to data released by the General Administration of Customs.
Crude imports reached 18.51-mil mt in February, up 8.18% on month, up 57.8% year-on-year, the data showed.
The country continued stepping up crude imports, as domestic output was declining and state-owned refineries maintained high crude runs, market sources denoted. China's reliance on imported crude may deepen further on low production interest of domestic oilfields, the sources believed.
China's crude exports in the January-February period slumped 67% from one year earlier to 350,000mt, the GAC data also indicated.
