China crude imports up 7.6 pct.

TOKYO, May 9 (KUNA) — China’s crude oil imports rose 7.6 percent in April from a year earlier to 32.58 million tons, or 7.96 million barrels a day (bpd), government data showed Monday.
Imports also grew 3.2 percent on daily basis from March’s 7.71 million bpd, according to data released by the General Administration of Customs. Crude oil imports in the first four months of this year expanded 11.1 percent from the same period of 2015 to 7.5 million bpd.
Last year, the world’s second-largest oil consumer began to allow local independent refineries, known as “teapot” refiners, to import crude oil as part of its energy reforms. Qualified local refineries are allowed to import crude oil if they cut backward capacity or install natural gas storage facilities. According to the US Energy Information Administration under the Department of Energy, these smaller, independent refineries account for more than 20 percent of China’s total refinery capacity. (end) mk.hb

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