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todayonline - 12 days ago

China s diesel exports fall 9.2% in April vs month earlier

BEIJING - China s diesel exports in April fell 9.2% from a record-high level a month earlier, as refiners focused on the domestic market after the easing of coronavirus restrictions prompted an increase in demand and supported profit margins. Diesel exports were 2.57 million tonnes last month, data from the General Administration of Customs showed on Saturday, down from a record 2.83 million tonnes in March. Gasoline exports were 1.9 million tonnes, versus 1.82 million tonnes in March and 1.17 million tonnes in April 2019. The increase in gasoline exports occurred as Chinese refiners cranked up throughput by 11% last month from March and overall refined fuel exports rose to a single-month record of 8 million tonnes. Chinese fuel demand may rebound this month though, with some analysts estimating gasoline consumption may return to 95% of pre-pandemic levels and diesel usage to rise after government stimulus measures. Still, refiners have cut jet kerosene production by 22% and gasoline by 15% over the first four months of 2020. Plants are raising fuel oil output to build up stocks for cleaner marine fuels that meet the new global maritime emissions rules in place from January 2020. However, customs does not yet provide data on China s fuel oil exports. The government issued its first-ever export quotas for fuel oil in April. China s jet kerosene exports in April rose 31.4% from a year earlier to 2.03 million tonnes, which compared to 1.48 million tonnes in March, customs data showed. Imports of liquefied natural gas (LNG) last month were 5.1 million tonnes, up 12.3% from the same month last year. REUTERS

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