China's Diesel Exports Dip Amid Domestic Supply Squeeze

Thursday, November 18, 2021

China's diesel exports fell in October after a rebound the previous month as refiners diverted more supplies to the domestic market to make up for a supply squeeze following months of production curbs.

China shipped abroad 560,000 tonnes of diesel last month, down 74% from the same period last year and down from 780,000 tonnes in September, data from the General Administration of Customs showed on Thursday.

Chinese refiners cut fuel output in the third quarter because of COVID-19 curbs and floods but diesel consumption rebounded, partly triggered by a widespread power crunch that caught the market by surprise that even prompted rare imports of the fuel.

Gasoline exports reached 1.01 million tonnes, up from 920,000 tonnes in September but remained 47% below year-ago level, customs data showed.

Jet kerosene exports were at 830,000 tonnes, up 90% from the year before, supported by firm Asian refining margins for the aviation fuel alongside recovering air travel demand.

China earlier this month issued refined fuel export quotas for an additional 1.6 million tonnes for the rest of the year, but overall China has slashed the allowances for 2021 by a third.

Customs data also showed China's liquefied natural gas (LNG) imports rose 24.3% from a year earlier to 6.17 million tonnes, driving total imports of the super-chilled fuel in the first 10 months of the year to 64.5 million tonnes, up 22.5% from a year earlier.

Below are details of fuel exports and imports of LNG in millions of tonnes, with percentage changes as provided by customs.

Exports (mln tonnes)Octy/y % changeJan-Octy/y % change
Gasoline
1.01
-47
12.8
-3.7
Diesel
0.56
-74
15.72
-0.4
Jet fuel
0.83
90
6.19
-22.6





Import (mln tonnes)Sept
y/y % change
Jan-Sept
y/y % change
LNG
6.17
24.3
64.50
22.5


(Reporting by Chen Aizhu; editing by Christian Schmollinger)

Categories: Tankers Oil China

Related Stories

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Current News

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com