China Energy Sector Stat. Oct 2020
According to the recent issued national economy running statistics from China National Bureau of Statistics, in October 2020, China’s coal production turned from a downtrend to an uptrend; China’s natural gas production accelerated; China’s crude oil and electric production slowed down.
1 Coal and crude oil production
China’s coal production turned from a downtrend to an uptrend. In October 2020, China’s coal production was 340 million mt, up 1.4% Y-O-Y, and the daily production was 10,860kt, down 180kt M-O-M. From January to October 2020, the total coal production was 3.13 billion mt, up 0.1% Y-O-Y.
The import volume of coal continued to drop. In October 2020, China imported coal of 13,730kt, down 4,950kt M-O-M and 46.6% Y-O-Y. From January to October 2020, the total coal import volume was 250 million mt, down 8.3% Y-O-Y. Besides, the coal dealing prices at ports first trended up and then dropped. As of October 30, the prices of coal Q5500, Q5000 and Q4500 at Qinhuangdao port were RMB 575/mt, RMB 523/mt and RMB 464/mt respectively, up RMB 12/mt, RMB 14/mt and RMB 11/mt respectively from September 25.
China’s crude oil production slowed down, while the processing volume growth rose. In October 2020, China’s crude oil production was 16,410kt, up 1.4% Y-O-Y; China’s crude oil processing volume was 59,820kt, up 2.6% Y-O-Y. From January to October 2020, the total crude oil production was 160 million mt, up 1.7% Y-O-Y; the total crude oil processing volume was 560 million mt, up 2.9% Y-O-Y.
China’s crude oil import growth turned from positive to negative, and the international crude oil prices fluctuated downward. In October 2020, China imported crude oil of 42,560kt, down 6.5% Y-O-Y. From January to October 2020, the total crude oil import volume was 460 million mt, up 10.6% Y-O-Y. As of October 30, Brent crude oil spot price was $36.33/bbl FOB, down 9.9% or $3.97/bbl from September 30.
2 Natural gas production
China’s natural gas production accelerated. In October 2020, China’s natural gas production was 16.3 bcm, up 11.9% Y-O-Y, and the daily production was 0.53 bcm, up 0.04 bcm M-O-M. From January to October 2020, the total natural gas production was 153.4 bcm, up 9.0% Y-O-Y.
China’s natural gas import growth rose greatly. In October 2020, China imported natural gas of 7,530kt, up 15.5% Y-O-Y. From January to October 2020, the total natural gas import volume was 81,260kt, up 4.7% Y-O-Y.
