BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

China swaps 815,000 mt gasoline export quota into gasoil, jet fuel, gas quotas

Oil

Platts Rigs and Drilling Analytical Report (RADAR)

Commodities | Natural Gas | Oil | Refined Products

Brazil Oil and Gas Conference

Natural Gas | Natural Gas (North American) | Oil | Crude Oil

Más de la mitad de la producción de gas y petróleo del golfo de EE. UU. sigue cerrada tras el huracán Barry: BSEE

China swaps 815,000 mt gasoline export quota into gasoil, jet fuel, gas quotas

London — China's Ministry of Commerce has swapped the gasoline export quotas of some state-owned companies for other refined products like gasoil and jet fuel but kept the overall refined product quotas for this year unchanged, Beijing-based sources with knowledge of the matter said Wednesday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The reduction in gasoline export quotas was in line with upcoming refinery maintenance that will curb production and an oversupplied export market that is not as profitable as exporting distillates and jet fuel. The swaps were in response to requests by the state refiners, the sources said.

The government swapped 700,000 mt of CNPC's gasoline export quota with 400,000 mt of gasoil and 300,000 mt of jet fuel.

Meanwhile, 115,000 mt of Sinochem's gasoline export quotas were swapped for 110,000 mt of gasoil and 5,000 mt of natural gas, although the type of gas was not immediately clear.

The government also swapped 1,000 mt of CNOOC's gasoil export quotas into natural gas.

China has allocated total 21.5 million mt of export quota so far this year. The total volume is unchanged after the quota swaps.

Market sources expected the ministry will allocate the second round of export quotas in May/June.

-- Oceana Zhou, oceana.zhou@spglobal.com

-- Edited by Dan Lalor, daniel.lalor@spglobal.com