Energy Production in October of 2021

In October, the production of major energy products in industries above designated size increased year-on-year, of which raw coal increased by 4.0 percent, crude oil increased by 3.0 percent, natural gas increased by 0.5 percent and power generation increased by 3.0 percent. Compared with the previous month, raw coal production changed from decline to rise, crude oil production was basically stable, the growth rate of natural gas production decreased, and power production maintained growth.

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

Raw coal production has changed from down to up. With the implementation of policies and measures to increase production and ensure supply, the release of high-quality production capacity was accelerated. In October, 360 million tons of raw coal were produced, a year-on-year increase of 4.0 percent, a decrease of 0.9 percent last month, an increase of 5.5 percent over the same period in 2019, an average increase of 2.7 percent in two years, and an average daily output of 11.52 million tons. 26.94 million tons of coal were imported, a year-on-year increase of 96.2 percent.

From January to October, 3.3 billion tons of raw coal were produced, with a year-on-year increase of 4.0 percent, an increase of 4.1 percent over the same period in 2019, and an average increase of 2.0 percent in two years; imported coal was 257.34 million tons, a year-on-year increase of 1.9 percent.

On October 29, the comprehensive transaction prices of 5500, 5000 and 4500 kcal thermal coal in Qinhuangdao Port were 1,202, 1,096 and 961 yuan per ton respectively, up 123, 116 and 104 yuan respectively compared with September 24. From the perspective of China's coastal power coal purchase price (comprehensive price), in the week from November 4 to November 11, 5500 kcal was 1,095 yuan per ton, which was significantly lower than that in October.

Crude oil production was basically stable, and the decline in processing capacity expanded slightly. In October, it produced 16.83 million tons of crude oil, a year-on-year increase of 3.0 percent, a slowdown of 0.2 percentage point over the previous month, an increase of 4.5 percent over the same period in 2019, an average increase of 2.2 percent over the two years, and an average daily output of 543,000 tons; 58.4 million tons of crude oil were processed, with a year-on-year decrease of 3.0 percent, an increase of 0.4 percentage point over the previous month, a decrease of 0.5 percent over the same period in 2019, an average decrease of 0.2 percent in two years, and an average daily processing of 1.884 million tons.

From January to October, 166.19 million tons of crude oil were produced, with a year-on-year increase of 2.5 percent, an increase of 4.2 percent over the same period in 2019, and an average increase of 2.1 percent in two years; 585.15 million tons of crude oil were processed, with a year-on-year increase of 5.2 percent, an increase of 8.3 percent over the same period in 2019, and an average increase of 4.1 percent over the two years.

The decline in crude oil imports narrowed and international crude oil prices rose. In October, the imported crude oil was 37.8 million tons, a year-on-year decrease of 11.2 percent, 4.1 percentage points lower than that of the previous month; from January to October, the imported crude oil was 425.06 million tons, a year-on-year decrease of 7.2 percent. On October 29, the spot FOB price of Brent crude oil was 83.1 USD per barrel, up 6.8 percent from September 30.

The growth rate of natural gas production fell. In October, the production of natural gas was 16.5 billion cubic meters, a year-on-year increase of 0.5 percent, a decrease of 6.6 percentage points over the previous month, an increase of 12.4 percent over the same period in 2019, an average increase of 6.0 percent over the two years, and an average daily output of 530 million cubic meters.

From January to October, 168.4 billion cubic meters of natural gas were produced, with a year-on-year increase of 9.4 percent, an increase of 19.2 percent over the same period in 2019, and a average increase of 9.2 percent over the two years.

Natural gas imports grew rapidly. In October, 9.38 million tons of natural gas were imported, with a year-on-year increase of 24.5 percent, 0.9 percentage point higher than that of the previous month. From January to October, 99.07 million tons of natural gas were imported, with a year-on-year increase of 22.3 percent.

II. Electric Power Production

Electricity production maintained growth. In October, the power generation was 639.3 billion kwh, a year-on-year increase of 3.0 percent, a decrease of 1.9 percentage points over the previous month, an increase of 7.7 percent over the same period in 2019, an average increase of 3.8 percent over the two years, and an average daily power generation of 20.6 billion kwh. From January to October, the power generation was 6,717.6 billion kwh, a year-on-year increase of 10.0 percent, an increase of 11.5 percent over the same period in 2019, and an average increase of 5.6 percent over the two years.

In terms of varieties, in October, the growth of wind power and nuclear power accelerated, the growth of thermal power and solar power slowed down, and the decline of hydropower expanded. Among them, wind power increased by 23.5 percent year-on-year, 3.8 percentage points faster than the previous month, with an average growth of 19.1 percent in the two years; nuclear power increased by 16.9 percent, 12.6 percentage points faster than the previous month, with an average growth of 8.0 percent in the two years; hydropower decreased by 11.9 percent, an increase of 11.6 percentage points over the previous month, with an average increase of 5.1 percent in the two years; thermal power increased by 5.2 percent, 0.5 percentage point slower than the previous month, with an average growth of 1.8 percent in the two years; solar power generation increased by 0.4 percent, down 4.1 percentage points from the previous month, with an average growth of 4.2 percent in the two years.

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 October 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.

5. The two-year average growth rate refers to the growth rate calculated by geometric average method based on the corresponding number of the same period in 2019.