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Free AccessChina Approves 15m Ton Fuel Export Quota
China has approved a 15m ton fuel export quota according to JLC.
- Companies receiving allocations are PetroChina 4m tons, Sinopec 5.6m tons, CNOOC 2.4m tons, Sinochem 2.4m tons and ZPC 600k tons
- The allocations may include low-sulfur bunker fuel which are usually issued in separate allocations.
- This extra quota will bring 2022 exports up to 39m tons compared to 38.6mtons in 2021.
- The additional export quota will help as China attempts to revive the economy following covid restrictions this year. China has recently controlled the amount refiners can export to reduce pollution and help consolidate the sector.
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.