Energy production in March of 2020

In March, the production of industrial raw coal above designated size increased from a decline, crude oil production slightly decreased, natural gas production accelerated, and the decline in power production narrowed.

I. Raw Coal, Crude Oil and Natural Gas Production and Relevant Information

The production of raw coal changed from falling to rising. In March, the production of raw coal reached 340 million tons, a year-on-year increase of 9.6 percent, and the growth rate changed from negative to positive, while which was 6.3 percent of decrease from January to February. The average daily output was 10.88 million tons, an increase of 2.73 million tons over the first two months. In the first quarter, 830 million tons of raw coal were produced, down 0.5 percent year on year.

Coal imports increased and trading prices fell. In March, 27.83 million tons of coal were imported, up 18.5 percent year on year; in the first quarter, 95.78 million tons of coal were imported, up 28.4 percent year on year. The comprehensive trading price of port coal fell slightly. On April 3, the price of 5500, 5000 and 4500 kcal coal in Qinhuangdao port was 540, 483 and 432 yuan per ton respectively, 16, 19 and 20 yuan lower than that on February 28.

Crude oil production decreased slightly, and processing volume increased. In March, the production of crude oil was 16.56 million tons, down 0.1 percent year on year, with an average daily production of 534 thousand tons; the processing of crude oil was 50.04 million tons, down 6.6 percent year on year, with an average daily processing of 1,614 thousand tons. In the first quarter, 48.57 million tons of crude oil were produced, up 2.4 percent year on year; 149.28 million tons of crude oil were processed, down 4.6 percent year on year.

Crude oil imports grew steadily, and international crude oil prices fell deeply. In March, 41.1 million tons of crude oil was imported, up 4.5 percent year on year. In the first quarter, 127.19 million tons of crude oil were imported, up 5.0 percent year on year. Brent crude oil spot FOB on March 31 was 19.19 USD per barrel, down 62.6 percent from 51.31 USD per barrel on February 28.

Natural gas production grew rapidly. In March, 16.9 billion cubic meters of natural gas were produced, up 11.2 percent year on year, with an average daily output of 540 million cubic meters. In the first quarter, 48.3 billion cubic meters of natural gas were produced, up 9.1 percent year on year.

Natural gas imports slowed down. In March, 6.92 million tons of natural gas were imported, down 0.2 percent year on year. In the first quarter, 24.66 million tons of natural gas were imported, up 1.8 percent year on year.

II. Electric Power Production

The decline in electricity production narrowed. In March, power generation reached 552.5 billion kwh, down 4.6 percent year-on-year, with a daily average of 17.82 billion kwh. In the first quarter, power generation reached 1,582.2 billion kwh, a year-on-year decrease of 6.8 percent.

By category, in March, the growth rate of thermal power and hydropower declined, but the decline narrowed; new energy power generation, such as nuclear power, wind power and solar power, grew rapidly. Among them, thermal power decreased by 7.5 percent year-on-year, hydropower fell 5.9 percent, 1.4 and 6.0 percent lower than January and February. The growth rate of nuclear power, wind power and solar power increased by 6.9, 18.1 and 8.6 percent.

Annotations:

1. Explanatory Notes

Average daily product output: It is calculated by dividing the total output of Industrial Enterprises above the designated size announced in that month by the calendar days of that month.

2. Statistical Coverage

The statistical caliber of the output data in the report is above the designated size of industry, and the statistical scope is industrial enterprises with annual main business income of more than 20 million yuan.

Because the scope of Industrial Enterprises above the designated size changes every year, in order to ensure that this year's data is comparable with the previous year's, the same period used to calculate the growth rate of various indicators such as product output is consistent with the statistical scope of enterprises in this period, and there is a caliber difference between the data released last year.

3. Data Source

Import data comes from the General Administration of Customs, of which January and February data are express data; coal price data comes from China Coal Market Network; crude oil price data comes from the United States Energy Information Agency (EIA).

4. Conversion relationship of natural gas units: 1 ton is equal to 1380 cubic meters.