China adds 15 mln tons to 2023 fuel export quotas in third batch
BEIJING, Sept 1 (Reuters) – 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 tons of refined products quotas, made up of kerosene, diesel and gasoline exports, and 3 million tons of marine fuel, the sources said.
The quotas were allotted to Sinopec, PetroChina, CNOOC, Sinochem Group, China Aviation Oil Co, Zhejiang Petrochemical Co and Norinco, China-based consultancies Longzhong and JLC said.
The new issue brings the total volume of oil product export quotas this year to 53.99 million tons, up from 34.75 million issued in the same period last year.
Previous batches this year comprised 12 million tons in May and 26.99 million in January.
State-owned Sinopec, PetroChina, CNOOC and Sinochem Group were the main recipients of the quotas, taking 91.6% of the allocation across refined fuel products and marine fuel, according to a calculation by Reuters.