September 20, 2024 06:41 GMT
MNI BRIEF: China's August Electricity Growth Up 8.9% Y/Y
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MNI (BEIJING) - China’s electricity consumption grew 8.9% y/y in August to 964.9 billion kWh, the National Energy Administration announced on Friday.
From January to August, electricity demand reached 6561.9 billion kWh, up 7.9% y/y, with primary industry consumption up 7.0%, secondary rising 6.3%, tertiary increasing 11.0%, and urban and rural residents up 10.9%.
China's crude oil refinery processing and crude imports will increase in the second half by 3.2% and 4.5% respectively over H1 levels as consumption rises, but both are set to fall during 2024 amid a weak economy and the switch to electric vehicles, a leading Chinese oil expert recently told MNI. (See: MNI INTERVIEW: China Oil Imports To Fall Despite H2 Boost)
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