International

China's gasoline exports rise on new quotas; diesel, jet below expectations

Reuters
19/08/2022 17:15
Visualizações: 2458

China's July gasoline exports rose 19% over a year before to a three-month high, data showed on Thursday, as refiners took advantage of new quotas to send more fuel abroad and ease bulging domestic stocks.

Gasoline shipments totalled 880,000 tonnes last month, the highest since April, although year-to-date volumes remained 37% below the same year-ago period, data from the China General Administration of Customs showed.

Exports of diesel and aviation fuel, however, took analysts by surprise with volumes much lower than their forecasts.

Diesel exports only edged up from June to 360,000 tonnes last month, about half the forecast levels and a fraction of 1.39 million tonnes in July 2021.

Exports of jet fuel also fell, by 27% over a year earlier at 480,000 tonnes, the lowest monthly volume since January 2021. Year-to-date exports stood 8.6% higher than a year before.

China issued two batches of export quotas in June and July, after companies lobbied for more permits to help thin overflowing inventories at home as extensive COVID lockdowns stifled fuel consumption.

Exports of the three fuels is set to rebound in August to near the highest for the year so far on new quotas, led by diesel fuel, but the government's broader curbs are set to cap shipments at seven-year lows for 2022.

Thursday's data also showed China's imports of liquefied natural gas (LNG) in July fell 15.4% on the year to 4.74 million tonnes. Year-to-date purchases were down 20% as companies avoid high priced spot purchases and focus on term supplies.

Pipeline gas imports, primarily from Turkmenistan and Russia, rose 8% on the year to 3.96 million tonnes. Imports during the first seven months were up nearly 11% year-on-year to 26.28 million tonnes, data showed.

Exports

July

y/y % change

Jan-July

y/y % change

Gasoline

0.88

19

6.44

-37.4

Diesel

0.36

-74.2

2.42

-83.2

Jet fuel

0.48

-27.1

4.76

8.6

Import

July

y/y % change

Jan-July

y/y % change

LNG

4.74

-15.4

35.93

-20.3

Piped gas

3.96

8

26.28

10.8

 

Most Read Today
See Also
BOGE2026
Bahiagás Highlights Bahia’s Leading Role in the Energy T...
30/05/26
Investments
Petrobras Announces Investments of More Than R$ 70 Billi...
30/05/26
BOGE2026
Benel Marks Presence at Bahia Oil & Gas Energy and Annou...
30/05/26
BOGE2026
Oil States Reinforces Commitment to Innovation and Opera...
29/05/26
BOGE2026
PetroReconcavo Discusses the Future of Oil and Gas at Ba...
29/05/26
BOGE2026
Lumina Group Makes Its Presence Felt at Bahia Oil & Gas ...
29/05/26
BOGE2026
Bahia Brings Together Industry, Innovation, and Business...
28/05/26
Royalties
Amounts related to March production for concession and t...
28/05/26
BOGE2026
Oil & Gas Expansion Boosts Demand for Industrial Waste T...
28/05/26
BOGE2026
BRAVA Energia Marks Presence at Bahia Oil & Gas Energy 2...
27/05/26
IBP
Brazil Can Expand Its Prominence as a Global Energy Supp...
27/05/26
Investments
Petrobras and Transpetro announce R$ 2.8 billion in inve...
27/05/26
International Company News
Jumbo orders a new class of versatile heavy lift vessels
27/05/26
BOGE2026
The Largest Oil and Gas Event in the North and Northeast...
25/05/26
BOGE2026
With production on the rise, independent players lead di...
25/05/26
ANP
ANP Workshop Debates Boosting Oil and Gas Exploration in...
25/05/26
BOGE2026
ANP participates in Bahia Oil & Gas Energy 2026, in Salvador
25/05/26
Fenasucro
Future Fuel consolidates Brazilian pioneering role and b...
20/05/26
Partnership
Radix partners with Repsol Sinopec Brasil and PUCRS to c...
20/05/26
Communication
The behind-the-scenes story of communication and adverti...
20/05/26
Result
Total oil production under production-sharing regime hit...
20/05/26
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.