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China approves additional oil product export quotas for state-owned oil firms

2018/12/07 12:58

 

The Chinese government in late November approved 2.0 mil tons of additional export quotas for oil products for state-owned oil firms. The issuance of the quotas was the fourth time this year. The new quotas boosted the total export quota for the whole year to 48.00 mil tons, up more than 11% from last year’s 43.13 mil tons. Exports of all products increased from the previous year. China’s oil product exports were rapidly increasing as a sense of oversupply in the domestic market was deepening. 

 

Details for export quotes for 2018

 

    The first quota

Processing-Trade

Products

Ptrochina

Sinopec

Cnooc

Sinochem

Cao

Total

Gasoline

4

4

 

8

Kerosine

76

270

10

 

356

Gas oil

12

 

12

LNG

 

 

 

 

 

 

Total

 

80

286

10

 

 

376

General         -Trade

Gasoline

356

126

76

97

 

655

Kerosine

34

200

35

1

 

270

Gas oil

185

348

64

102

 

699

LNG

 

 

 

 

 

 

 

Total

 

575

674

175

200

 

1624

  The second quota

Processing-Trade

Products

Ptrochina

Sinopec

Cnooc

Sinochem

Cao

Total

Gasoline

11

3

 

14

Kerosine

71

250

3

 

324

Gas oil

15

14

 

29

LNG

 

 

 

 

 

Total

 

97

267

 

3

 

367

General         -Trade

Gasoline

293

87

66

90

 

536

Kerosine

109

250

50

10

419

Gas oil

265

486

87

140

 

978

LNG

 

 

 

0.5

 

0.5

 

Total

 

667

823

203

230.5

10

1933.5

 

The third quota

Processing-Trade

Products

Ptrochina

Sinopec

Cnooc

Sinochem

Cao

Total

Gasoline

0

Kerosine

7

7

Gas oil

0

LNG

 

 

 

 

 

0

Total

 

0

7

0

0

0

7

General         -Trade

Gasoline

47

27

74

Kerosine

51

79

29

1

160

Gas oil

52

7

59

LNG

 

 

 

 

 

0

Total

 

 

98

131

29

34

1

293

The fourth quota

Processing-Trade

Products

Ptrochina

Sinopec

Cnooc

Sinochem

Cao

Total

Gasoline

0

Kerosine

0

Gas oil

0

LNG

 

 

 

 

 

0

Total

 

 

 

 

 

 

 

General          -Trade

Gasoline

50

18

3

5

 

76

Kerosine

10

1

11

Gas oil

20

60

21

12

113

LNG

 

 

 

 

 

0

Total

 

 

70

78

24

27

1

200

Unit:1,0000MT

 

 

 

 

Korea : Energy Desk  Bian Chunyu  +81-3-3552-2411
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