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Asian Viewpoints

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.

First quota in 2021 for low sulfur bunker exports

Company

Quantity (10kt)

Proportion%

Qty in same period 2020

10kt

Vs last yr

%

Sinopec

240

48.0%

429

-44.06%

PetroChina

149

29.8%

295

-49.49%

CNOOC

40

8.0%

90

-55.56%

Sinchem

32

6.4%

90

-64.44%

Zhejiang Petchem

39

7.8%

100

-61.00%

Total

500

100.0%

1004

-50.20%

 

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