China Issues Oil Product Quotas but Volumes Unclear: Platts Sources

China has issued new oil product quotas according to Platts reports, quoting senior officials Aug 28.

• "The new allocation is out with Sinopec's volume topping among the quota holders, and we are arranging September exports. It looks [like there would be] no restriction on outflows for the rest of the year," an official with a state-owned company said according to Platts.
• Both officials declined to comment on volumes.
• Platts market sources said oil companies are set to export about 3.5 million mt of clean oil products in September, comprising about 800,000 mt of gasoline, 1.1 million mt of gasoil and 1.6 million mt of jet fuel. The volume is likely to be 10% higher than in August.
• FGE reported that 8-10 million tons of transport fuel quotas may be issued in two batches, co. said in a note published Aug 18, without specifying the source of the information
• First batch is expected at the end of Aug it said.
• China to export ~1.12m tons of diesel in September, according to a note by OilChem - that’s higher than 610k tons in August.
• Planned gasoline exports will be lower m/m at 830k tons; jet fuel exports will also be down at 1.58m tons according tOIlchem.
• Exports of the three products to total 3.5m tons in September vs 3.2m tons in prior month.