China approves first quota in 2021 for low sulfur bunker exports
Asia Viewpoint: by Ma Dongwei The Ministry of Commerce in China recently announced the first quota in 2021 for low sulfur bunker exports totaling 5.00 mil mt, about half the quantity of 10.04 mil mt in the same period last year. Allocations were 2.40 mil mt to Sinopec, 1.49 mil mt to PetroChina, 400,000mt to China National Offshore Oil Corporation (CNOOC), 320,000mt to Sinochem and 390,000mt to Zhejiang Petrochemical. The Ministry of Commerce did not issue a second quota in 2020 but is likely to issue an additional quota this year along with an increase in bunker sales. e Ministry of Commerce did not issue a second quota in 2020 but is likely to issue an additional quota this year along with an increase in bunker sales.
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