• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days They pay YOU to TAKE Natural Gas
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 3 days What fool thought this was a good idea...
  • 6 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 20 hours A question...
  • 12 days The United States produced more crude oil than any nation, at any time.

China Issues Third-Batch Quotas For Oil Product Exports

China has issued the third batch of 2019 quotas for ordinary-trade refined oil export, permitting six million mt of exports, according to an industry source.

Sinopec obtained quotas for 2.78 million mt, followed by PetroChina with 2.02 million mt, Sinochem with 600,000 mt and China National Offshore Oil Corporation with 600,000 mt.

Hengli Petrochemical didn’t get any quotas under this batch.

The separate quotas for different products are not known yet.

China has released quotas for a total of 56 million mt of refined oil exports under ordinary trade and processing trade in 2019, an increase of eight million mt or 16.7% from a total of 48 million mt for 2018. It may issue quotas for over 60 million mt of refined oil exports through 2019.

The country is expected to boost gasoline exports more significantly later this year, as the domestic market is seriously oversupplied and only half of the first two batches of gasoline quotas have been used. China may also raise the share of gasoline quotas later this year to encourage export.

China’s gasoline exports in the first half of 2019 accounted for only 50% of the first two batches of quotas, while diesel exports accounted for 64% of the quotas, JLC data shows.

By JLC International

ADVERTISEMENT

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News