OREANDA-NEWS. January 26, 2015. Sinopec Corp, Asia's largest refiner, said it processed 1.48 percent more crude oil in 2014 than a year earlier, but diesel production fell over 4 percent as a slowing economy hit demand for the fuel used for transport and construction.

Sinopec, also China's second-largest oil and gas producer, recorded an 8.5 percent growth in total oil and gas productions last year, with overseas operations contributing most of the crude oil growth, the company said in a filing to the stock exchange.

The operational data was unaudited.

Refinery throughput at 235.38 million tonnes was equivalent to 4.74 million barrels per day, or 47 percent of the country's total.

Kerosene led the output growth, at 19 percent, followed by gasoline, 12.4 percent, as demand for both fuels maintained relatively healthy demand expansion and as refiners shifted productions to favour kerosene at the expense of diesel.

The refiner, China's largest refined fuel distributor, said it raised its total sales of refined fuel by 3.36 percent. These sales typically include diesel, gasoline and kerosene.

While it recorded a healthy 7.2 percent growth in ethylene output, the company said synthetic fibre - largely used to make textiles - fell 5.5 percent, an evidence of a weak textile market.