China's Industrial Gas Output Sees June Rebound, Coal and Crude Oil Production Declines

Stock News
Jul 15

China's National Bureau of Statistics reported that in June, production of raw coal by industrial enterprises above a designated size declined year-on-year, while crude oil output remained stable. Natural gas production shifted from a previous decrease to growth, and electricity generation showed steady expansion.

Overview of Coal, Crude Oil, and Natural Gas Production

Raw coal output experienced a year-on-year decrease. In June, production reached 380 million tonnes, down 9.7% compared to the same period last year, averaging a daily output of 12.7 million tonnes. For the first half of the year, cumulative output totaled 2.37 billion tonnes, a decrease of 1.7%.

Crude oil production remained stable. June output was 18.12 million tonnes, a slight decrease of 0.5% year-on-year, with a daily average of 604,000 tonnes. Over the January to June period, total crude oil production reached 109.43 million tonnes, representing a 0.9% increase compared to the first half of the previous year.

The decline in crude oil processing intensified. In June, processing volume was 51.24 million tonnes, down 17.7% year-on-year, with the rate of decline widening by 8.6 percentage points compared to May. The daily processing average was 1.708 million tonnes. Cumulative processing volume for the first six months was 343.87 million tonnes, down 4.9% year-on-year.

Natural gas production reversed its decline to show growth. Output in June was 21.4 billion cubic meters, a year-on-year increase of 1.1%, following a 2.2% decline in May. Daily average production was 710 million cubic meters. For the first half of the year, total natural gas output reached 133 billion cubic meters, up 1.6% compared to the same period in the previous year.

Electricity Generation Performance

Electricity production by major industrial enterprises grew steadily. In June, power generation reached 827.6 billion kilowatt-hours, a 2.0% increase year-on-year, averaging 27.59 billion kilowatt-hours daily. Cumulative generation for the first half of the year was 4.75 trillion kilowatt-hours, up 3.5%.

Analyzed by source, the growth rates for thermal and hydro power slowed in June, while nuclear and solar power generation accelerated. Wind power shifted from growth to a decline. Specifically, thermal power generation increased by 0.5%, with growth slowing by 1.6 percentage points from May. Hydro power grew by 4.8%, with its growth rate slowing by 8.2 percentage points. Nuclear power generation increased by 8.5%, accelerating by 3.5 percentage points. Wind power generation decreased by 5.6%, compared to a 0.5% increase in May. Solar power generation grew by 14.2%, with its growth rate accelerating by 2.1 percentage points.

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