China's second largest port sees surge in crude oil import

Crude oil import via east China's Ningbo Port, the second largest port of China, surged by 46.4 percent year on year to reach 29.947 million tons in the first ten months this year, according to statistics made public by the Ningbo Customs on Thursday.

The imports accounted for one-third of the national total for the same period, statistics show.

The imported crude oil is mainly consumed in Zhejiang Province and some are consumed by Guangdong Province, an economic power house in south China, Liaoning Province, a traditional industrial base, and the eastern coastal province of Shandong.

Customs sources said crude oil import via Ningbo Port has been on the rise since the beginning of this year, with the import volume topping 10 million tons in the first quarter, and by the end of the third quarter, imported crude oil had exceeded the total of last year.

It is predicted that China expects to import more than 100 million tons of crude oil this year, close to 40 percent of the total needed domestically. This will make it the second largest oil consumer country following the United States.