fbpx

Type to search

China’s Gasoline Exports Surged 97% in August

Traders expected China’s exports of gasoline, diesel and jet fuel to rebound in August after Beijing issued more export quotas in June and July.


China Petrochina File photo: AFP

 

China’s gasoline exports climbed 97.4% in August from a year earlier, customs data revealed on Sunday.

Exports for the January to August period were still 30.4% lower than the corresponding period last year, the General Administration of Customs said.

Traders had expected China’s exports of gasoline, diesel and jet fuel to rebound in August as domestic demand faltered and Beijing issued more export quotas in June and July.

China topped up with a fourth batch of export quotas of 1.5 million tonnes for this year, taking the total so far this year to 24 million tonnes, still a third lower than 2021.

 

Also on AF: Turkey Aims for SCO Membership, Joining China, Russia, Iran

 

Diesel Up, Jet Fuel Down

Diesel exports were at 830,000 tonnes, up 51.8% from August 2021, on healthy export margins. Exports for the January to August period totaled 3.25 million tonnes, down 78.3% on the same period last year.

Exports of jet fuel in August declined 15.4% from the same period last year to 780,000 tonnes. Year-to-date shipments were 4.4% higher than the year before at 5.54 million tonnes.

The customs data also showed that China’s liquefied natural gas (LNG) imports in August fell 28.1% from a year earlier to 4.72 million tonnes. Shipments during the first eight months of the year were also down 21.3% from the same time a year ago at 40.64 million tonnes amid high spot prices of the super-chilled fuel.

Pipeline gas imports last month rose 9% on-year to 4.13 million tonnes, the data also showed. Year-to-date import volumes were up 10.6% from a year earlier to 30.40 million tonnes.

 

 

  • Reuters, with additional editing from Alfie Habershon

 

Read more:

China to Buy Russian Gas in Roubles, Yuan, Says Gazprom

Tokyo Gas Trials Synthetic Methane Using Green Hydrogen

Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.

logo

AF China Bond