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China Daily Oil Summary: Shandong Feedstock Imports Flat in April

OIL
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MNI (London) - Feedstock fuel oil arrivals at Ports in Shandong Province will have amounted to 1.8m mt in April, flat on the month from March, according to OilChem.

  • Arrivals of fuel oil from Russia are seen at 1.03m mt, a new historical high since June 2023 and rising 33% on the month.
  • Capacity utilisation rates at China’s state-owned refineries are projected to keep falling in the week to May 2, as some refineries have plans to cut May’s throughput, OilChem said.
  • For independent refineries in China’s Shandong province, CDU capacity utilisation rates are seen flat on the week, as Teapots maintain current levels of production.
  • China is to decrease both its diesel and gasoline prices by 70 y/mt (around $9.85/mt), according to the National Development and Reform Commission.
  • EXCLUSIVE: Plans for more Chinese cities to launch trade-in schemes aimed at boosting the stagnant real-estate market will likely not reverse the downturn due to its limited scale, particularly as buyers await prices to bottom, advisors and analysts told MNI.
  • POLICY: China will take necessary measures to safeguard the legitimate rights and interests of its enterprises, according to the Ministry of Commerce following revelations that the Japanese government plans to implement export controls on items related to the semiconductor industry.
  • FROM THE PRESS: China will develop new energy intelligent-connected vehicles and promote the high-end and green upgrading of the automobile industry to improve market demand, Xinhua News Agency reported
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MNI (London) - Feedstock fuel oil arrivals at Ports in Shandong Province will have amounted to 1.8m mt in April, flat on the month from March, according to OilChem.

  • Arrivals of fuel oil from Russia are seen at 1.03m mt, a new historical high since June 2023 and rising 33% on the month.
  • Capacity utilisation rates at China’s state-owned refineries are projected to keep falling in the week to May 2, as some refineries have plans to cut May’s throughput, OilChem said.
  • For independent refineries in China’s Shandong province, CDU capacity utilisation rates are seen flat on the week, as Teapots maintain current levels of production.
  • China is to decrease both its diesel and gasoline prices by 70 y/mt (around $9.85/mt), according to the National Development and Reform Commission.
  • EXCLUSIVE: Plans for more Chinese cities to launch trade-in schemes aimed at boosting the stagnant real-estate market will likely not reverse the downturn due to its limited scale, particularly as buyers await prices to bottom, advisors and analysts told MNI.
  • POLICY: China will take necessary measures to safeguard the legitimate rights and interests of its enterprises, according to the Ministry of Commerce following revelations that the Japanese government plans to implement export controls on items related to the semiconductor industry.
  • FROM THE PRESS: China will develop new energy intelligent-connected vehicles and promote the high-end and green upgrading of the automobile industry to improve market demand, Xinhua News Agency reported