China exporting fuel at unprecedented pace

Singapore

AFTER supplying the world with everything from Victoria's Secret lingerie to iPhones and Barbie dolls, China is now producing fuel that's finding its way to pumps across the globe.

The Asian manufacturing giant is turning a record amount of crude into refined products and sending some of it abroad at an unprecedented pace. That includes jet fuel sent to Europe last year, petrol that went to Nicaragua in May and another cargo currently headed to the Panama Canal. Traders say more shipments may be coming.