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China Issues 12mn Tonnes Of Fuel Export Quota For Second Batch

OIL PRODUCTS

China has issued 12mn tonnes of oil products export quotas to companies in the country’s second batch of 2023 quotas, according to consultancies Longzhong and JLC said and two trading sources.

  • The export volumes, comprising 9mn tonnes of refined products and 3mn tonnes of marine fuel, were allotted to Sinopec, China National Petroleum Corp, China National Offshore Oil Company, Sinochem Group, China Aviation Oil Co, Zhejiang Petrochemical Co and Norinco, the consultancies said.
  • The new quota was expected to be around 10mn tonnes according to Vortexa.
  • While this was down from the first batch 18.99mn tonnes, the figure remains well above last year’s levels.

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