January 22, 2013 / 7:49 AM / 5 years ago

TABLE-China's Dec implied oil demand up 12 pct on yr

Jan 22 (Reuters) - China's apparent oil demand rose 12 percent from a year
earlier to a record 10.9 million barrels per day (bpd) in December, Reuters
calculations from official data showed.
    The results were slightly higher than earlier Reuters calculations of 10.5
million bpd based on preliminary government data. 
    For the whole of 2012, the world's second-largest oil consumer burned about
9.6 million bpd of oil, 4.2 percent more than a year earlier, versus the
6.3-percent rate in 2011. 
    For a history of China's implied oil demand growth, click here
    The following table shows implied oil demand for December, net imports and
output. All volumes are shown in barrels per day. 

                                 Implied     Percent change on:        12-month
                                  demand     previous       year        moving
(Net imports + output)                         month         ago        average
Crude ("Crude supplied")      10,104,786         2.2        11.3      9,516,243
Gasoline                       2,314,787         6.6        20.8      1,998,927
Naphtha                          788,021        -5.0        19.1        734,439
Kerosene                         493,262         1.3        20.2        433,201
Diesel                         3,660,429         0.5         2.3      3,467,694
Fuel oil                         734,330        16.3        20.2        602,325
Lubricating oil                  211,642         0.6        13.8        201,525
LPG                              867,213         4.9         6.8        782,573
OVERALL OIL DEMAND            10,877,715         3.9        12.0      9,634,486

                                   Net       Percent change on:        12-month
                                 Imports     previous       year        moving
                                               month         ago        average
Crude                          5,740,360         1.5        12.9      5,375,740
Gasoline                         -69,522       -25.7        55.1        -67,551
Naphtha                          105,984       -18.4        91.1         70,307
Kerosene                          -5,280       -34.4        -7.3        -27,215
Diesel                           -62,857         4.7      -224.4        -18,658
Fuel oil                         332,280        22.3        14.5        268,914
Lubricating oil                   44,342        10.3       449.8         42,163
LPG                               39,746       -34.8       -55.6         64,916
Products subtotal                384,695        12.8       -18.0        332,381

                                             Percent change on:        12-month
                                 Output      previous       year        moving
                                               month         ago        average
Output (BARRELS PER DAY) 
Crude                          4,364,427         3.1         9.2      4,140,503
Gasoline                       2,384,308         5.3        21.6      2,066,478
Naphtha                          682,037        -2.5        12.5        664,132
Kerosene                         498,541         0.7        19.8        460,416
Diesel                         3,723,286         0.5         5.5      3,486,352
Fuel oil                         402,050        11.8        25.4        333,411
Lubricating oil                  167,300        -1.6         6.5        162,011
LPG                              827,467         8.1        14.5        717,657
Refinery runs                 10,493,020         3.6        13.6      9,302,105
* Reuters calculates China's oil demand by adding the total amount of crude
refined during the relevant period, as reported by the National Statistical
Bureau, to net imports of major oil products reported by Customs.
    This strips out any changes in crude oil inventories, which are rarely
reported in China.
    It also does not take into account the 1-2 percent loss in overall product
volume created by the refining process. Nor does it include the small amount of
crude that is directly burned as fuel at oilfields or power stations or that is
used by small, unreported 'teapot' refineries.
    Demand by product is calculated by the refinery output for each product plus
net imports.
 

 (Reporting by Judy Hua and Chen Aizhu in Beijing; Editing by Anand Basu)

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