China had released the second batch of refined oil export quotas with the total volume of 12 million tonnes, up 100% year on year, as the first batch of refined oil export quotas was to be basically used up, according to OilChem's survey.
The volume of quota includes 9 million tonnes for refined oil and 3 million tonnes for bunker fuel.
Compared with the same batch in 2022, the volumes of PetroChina, Sinopec, CNOOC and Sinochem were all sharply increasing, and Zhejiang Petroleum & Chemical, China North Industries Group and China National Aviation Fuel Group (CNAF) had also obtained quotas , data from the Ministry of Commerce showed.
China's 2023 Second Batch of Refined Oil Export Quotas (Unit: '000 tonnes)
Enterprise | General Trade | Processing Trade | Bunker Fuel | Total |
PetroChina | 2,630 | 0 | 1,270 | 3,900 |
Sinopec | 2,050 | 1,500 | 1,440 | 4,990 |
CNOOC | 840 | 0 | 250 | 1,090 |
Sinochem | 1,000 | 0 | 10 | 1,010 |
China National Aviation Fuel | 30 | 0 | 0 | 30 |
Zhejiang Petroleum&Chemical | 830 | 0 | 30 | 860 |
China North Industries Group | 120 | 0 | 0 | 120 |
Total | 7,500 | 1,500 | 3,000 | 12,000 |
Source: Ministry of Commerce
The Second Batch of Refined Oil Export Quotas in 2022 and 2023 (Unit: '000 tonnes)
Enterprise | 2023 | 2022 | YoY Chg |
PetroChina | 2,630 | 1,530 | 72% |
Sinopec | 3,550 | 2,400 | 48% |
CNOOC | 840 | 420 | 100% |
Sinochem | 1,000 | 150 | 567% |
China National Aviation Fuel | 30 | 0 | - |
Zhejiang Petroleum&Chemical | 830 | 0 | - |
China North Industries Group | 120 | 0 | - |
Total | 9,000 | 4,500 | 100% |
Source: Ministry of Commerce and OilChem
Written by Catherine Sun, sss@oilchem.net
Edited by Navy Liu, navy@oilchem.net