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OIL PRODUCTS: China Fuel Oil Imports Face Jan 1 Tariff Increase

OIL PRODUCTS
BulletEnergy BulletsCommodities

Starting from Jan 1, 2025, China will adjust the tariff rates on some imports and exports, including fuel oil. Its rates will be lifted from 1% to 3% according to OilChem, which may impact feedstock imports.

  • Independent refineries mostly lift fuel oil and the cost could increase by Yuan 80/100/tonne.
  • The impact appears to be limited so far OilChem reports pointing to some refineries only being able to run the grade rather than crude, the small overall percentage share it has for refiners and tightness in alternative grades.
  • It does however add to the overall bearish pressure Chinese refiners face at present, especially the independent sector. 

 

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Starting from Jan 1, 2025, China will adjust the tariff rates on some imports and exports, including fuel oil. Its rates will be lifted from 1% to 3% according to OilChem, which may impact feedstock imports.

  • Independent refineries mostly lift fuel oil and the cost could increase by Yuan 80/100/tonne.
  • The impact appears to be limited so far OilChem reports pointing to some refineries only being able to run the grade rather than crude, the small overall percentage share it has for refiners and tightness in alternative grades.
  • It does however add to the overall bearish pressure Chinese refiners face at present, especially the independent sector. 

 

Keep reading...Show less