China's August crude oil imports hit 8-month low; independent refiners shut
BEIJING (Reuters) — China's crude oil imports rose 3.4% in August from the same month a year earlier but slid to their lowest monthly level since January, data showed on Friday, as some independent refiners closed for longer-than-expected maintenance amid a wave of government environmental inspections.
China imported 33.98 MMt of crude in August, or 8 MMbpd, data from the Chinese General Administration of Customs showed on Friday. That compared with 8.18 MMbpd in July.
A string of independent refiners, known as 'teapots,' in eastern Shandong province carried out planned repair work in the July-August period before the peak demand season in September–October, Shandong-based refinery sources said.
Some were shut longer than planned because of safety problems detected in checks by central government environmental authorities.
Imports for the first eight months combined rose 12.2% from the same period a year ago to 281.05 MMt, or 8.44 MMbpd.
Meanwhile data showed China's refined fuel exports expanded 24% to 4.6 MMt in August from a year earlier. Exports were up from 4.55 MMt in July, supported by firm export margins.
Refined fuel imports gained 35.1% in August versus a year ago at 2.73 MMt.
Natural gas imports rose 69.5% on year in August at 5.66 MMt, a level down from July's 5.75 MMt.
Reporting by Chen Aizhu; Editing by Kenneth Maxwell
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