International

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

Reuters
19/08/2022 17:15
Visualizações: 1296

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
Equatorial Margin
Petrobras Obtains Authorization from Ibama for Deepwater...
21/05/25
International Event
4 Weeks to Go: North America’s Largest CCUS Event Approaches
20/05/25
Bahia Oil & Gas Energy 2025
BOGE25 to Offer Business Opportunities for Oil and Gas C...
16/05/25
Petrobras
The Búzios and Atapu fields received nearly the entire U...
13/05/25
Petrobras
Petrobras informs about shareholder remuneration
13/05/25
Pre-Salt
Petrobras informs about new oil discovery in the Santos ...
09/05/25
OTC Houston 2025
ABEMI reinforces strategic presence at OTC 2025
09/05/25
OTC Houston 2025
Oil States stands out at OTC Houston 2025 with award-win...
09/05/25
Natural Gas
Petrobras and Portobello establish unprecedented partner...
09/05/25
OTC Houston 2025
Offshore Technology Conference 2025: Waves of Innovation...
09/05/25
OTC Houston 2025
At OTC Houston 2025, Firjan takes part in MoU signing be...
09/05/25
Santos Basin
Karoon completes acquisition of FPSO Cidade de Itajaí
08/05/25
OTC Houston 2025
Brazilian company gains recognition at OTC with pioneeri...
08/05/25
OTC Houston 2025
Technology from Brazilian company Vidya is being used in...
08/05/25
OTC Houston 2025
Tenenge and Enseada are present at OTC 2025 in Houston
08/05/25
Selic Rate
Selic Rate Hike to 14.75% Signals Risks to Industry and ...
08/05/25
OTC Houston 2025
A Sergipe delegation at the fair in the USA met with Pet...
07/05/25
RD&I
ouronova and Equinor develop robots to operate in FPSO tanks
07/05/25
OTC Houston 2025
Petrobras, IBP, Sinaval, and ApexBrasil promote new busi...
07/05/25
Offshore
Decommissioning of Fixed Platforms in Shallow Waters Att...
07/05/25
OTC Houston 2025
Vesper, a leader in industrial EX Fans and Exhausters, m...
07/05/25
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.