A Glance of China Oil Market 20260629

Weekly News

China Jun scheduled refined oil exports fall 8% MoM

According to data from the General Administration of Customs of the People's Republic of China (GACC), China's exports of refined oil, namely gasoline, gasoil, and kerosene, totaled 1.30 million tonnes in May, a mild increase of 14.62% from April. The over exports remained low due to lingering export control in response of on-going Middle East tensions. The exports in June are scheduled at 1.74 million tonnes, down 7.84% from the scheduled volume in May, while the outsourcing of state-owned refineries for export has drawn market attention. 

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Western Inner Mongolia LNG capacity boom sparks industry shuffle

Endowed with Ordos Basin energy resources, Wuhai, Alxa and Ordos are China's top inland LNG hub. Surging new capacity creates oversupply; surplus LNG floods northern markets, triggering long-term price wars that will phase out small uncompetitive plants, with integrated firms dominating the market. Wuhai-Alxa-Otog Front Banner Industrial Belt has diversified feedstocks (pipeline gas, oilfield associated gas, coke oven gas) and complete industrial support, with new, ongoing and restart LNG projects advancing concurrently. 12 operational plants deliver 10.15 million m³/day.  

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May MTBE exports soar 139.41% YoY, as arbitrage remains favorable

The May exports of methyl tert-butyl ether (MTBE) in China showed a significant growth, thanks to the favorable export arbitrage window for most of May. International MTBE prices stayed elevated supported by geopolitical supply concerns, especially in Europe, while domestic market prices presented a downtrend. This fueled MTBE producers' willingness to sign export contracts. China exported 650,000 tonnes of MTBE in May, up 21.44% month-on-month and a soar of 139.41% year-on-year, according to data from the General Administration of Customs of PRC (GACC).

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