During January and February of 2024, China boosted its oil output by 2.9 percent year over year, reaching 35.11 million tons. This information comes from TASS, which cited data from the State Statistics Administration of the People’s Republic of China. The figures show that the country also expanded its oil purchases, importing 88.31 million tons of oil, an increase of 5.1 percent compared with the previous year. These trends underscore China’s ongoing emphasis on securing energy supplies while maintaining growth in domestic extraction for the period.
Meanwhile, coal production in the same two months declined by 4.2 percent from the prior year, totaling 710 million tons. Despite the drop in production, coal imports grew markedly, rising to 74.52 million tons, a rise of 22.9 percent. This shift highlights China’s strategy to balance domestic output with higher import volumes to meet energy demand and support industrial activity during the period.
In a broader energy snapshot for January and February 2024, oil production reached 35.11 million tons, marking a 2.9 percent year-on-year increase. Oil imports also rose, with imports totaling 88.31 million tons and an annual growth of 5.1 percent. These numbers reflect a coordinated approach to expand both refining capacity and feedstock availability while navigating evolving global energy markets.
Within the power sector, China’s major state and private energy companies raised electricity generation by 8.3 percent to 1.49 trillion kilowatt-hours in the first two months of 2024. Thermal power output grew by 9.7 percent, and hydroelectric production rose modestly by 0.8 percent. Nuclear and wind power facilities contributed to gains, increasing output by 3.5 percent and 5.8 percent respectively, while solar energy expanded strongly with a 15.4 percent rise. These shifts indicate a diversified mix of energy sources driving early 2024 electricity supply and resilience against seasonal and market fluctuations.
There were notable discussions around the pattern of oil purchases from Russia during this period, with market observers noting a trend toward record levels in imports. At the same time, reports indicated that Chinese authorities reduced purchases of Russian coal sharply as part of shifting energy and geopolitical considerations. These dynamics illustrate how China managed imports across fuel types to support its industrial and energy goals while adjusting to external factors in global energy markets.
Overall, the data from the start of 2024 show a balanced approach to energy production and procurement. Oil extraction and imports rose in tandem, while coal output declined even as imports climbed, and power generation benefited from a broader mix of traditional and renewable sources. The patterns point to a strategic effort to secure energy supplies, maintain manufacturing momentum, and navigate international trade relations as China advances its energy agenda for the year ahead.