China Net Oil-Product Imports May Fall 23% This Year, Says CNPC

China’s net imports of oil products may fall 23 percent this year as the world’s fastest-growing economy slows and domestic refiners expand capacity, according to the research unit of China National Petroleum Corp.

Net imports of products including gasoline, diesel, kerosene and naphtha may drop to 12.4 million metric tons from 16 million tons, Gong Jinshuang, a senior engineer at the CNPC Research Institute of Economics and Technology, said in a telephone interview yesterday.