China issues new 2023 batch of 15 million tons of fuel product export quotas

CHINA has issued 15 million metric tons of oil products export quotas to companies in its third batch for 2023, according to three trading sources and two domestic consultancies.

The volume consists of 12 million metric tons of refined products quotas, made up of kerosene, diesel and petrol exports, and three million tons of marine fuel, the sources said.

The quotas were allotted to Sinopec, China National Petroleum, China National Offshore Oil, Sinochem Group, China Aviation Oil, Zhejiang Petrochemical and Norinco, China-based consultancies Longzhong and JLC said.

The new issue brings the total volume of oil product export quotas so far this year to 45.99 million metric tons, up from 34.75 million tons issued in the same period of last year.

Previous batches this year comprised 12 million tons in May and 18.99 million tons in January. REUTERS