China increases oil and gas production

China in January-July 2021 increased oil production by 2.4 percent compared to the same period last year, while natural gas production grew by 10.7 percent, according to the country's State Statistical Bureau of the People’s Republic, Report informs referring to Prime agency.

In the first seven months of 2021, China produced 116.2 million tons of oil. The growth was 2.4 percent compared to the same period in 2020, and 3.9 percent compared with the same period in 2019. The volume of oil refining in January-July 2021 reached 412.4 million tons (an 8.9 percent increase compared to the same period in 2020 and an 11.4 percent increase compared to 2019).

Separately, in July, the volume of oil production in China amounted to 16.87 million tons (an increase in annual terms by 2.5 percent), refining volume stood at 59.06 million tons (a decrease in annual terms by 0.9 percent). In the first seven months of 2021, China reduced oil imports by 5.6 percent – to 301.83 million tons. Separately in July, the figure fell by 19.6 percent, and the volume of imports amounted to 41.24 million tons.

In January-July, gas production in China amounted to 120.2 billion cubic meters (compared to the same period in 2020, an increase of 10.7 percent, compared to the same period in 2019 – a rise of 21.2 percent). In July, gas production in China amounted to 15.8 billion cubic meters, an increase in annual terms by 9.8 percent, and a 15.1 percent growth in comparison with July 2019.

Gas imports in the first seven months increased by 24 percent to 68.96 million tons. Separately, in July, the figure increased by 27 percent, amounting to 9.34 million tons.

In the first seven months of 2021, China increased its coal production to 2.26 billion tons (a 4.9 percent and 4.8 percent increase compared to the same periods in 2020 and 2019). At the same time, coal imports in January-July 2021 decreased by 15 percent and amounted to 169.74 million tons.

According to the statistics bureau of China, 8.22 million jobs were created in the country in the first seven months of 2021. In July, the level of registered urban unemployment was 5.1 percent, which is 0.1 percentage points lower than in June.

The unemployment rate among the population aged 16-24 and 25-59 was 16.2 percent and 4.2 percent, respectively.

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