China planned a 20% month-on-month rise in refined oil exports in April, with a significant increase in the volume of gasoline and jet fuel, according to OilChem.
Refined oil planned exports (Unit: '000 tonnes)
Product |
Planned Exports in Apr 2023 |
Planned Exports in Mar 2023 |
MoM Chg |
Actual Exports in Apr 2022 |
YoY Chg |
Gasoline |
730.0 |
490.0 |
48.98% |
979.0 |
-25.44% |
Gasoil |
484.0 |
502.0 |
-3.59% |
527.7 |
-8.27% |
Jet Fuel |
1,050.0 |
894.0 |
17.45% |
964.1 |
8.91% |
Total |
2,264.0 |
1,886.0 |
20.04% |
2,471.0 |
-8.37% |
Source: OilChem
As shown above, refined oil planned exports climbed 20.04% month on month to 2.264 million tonnes in April. Specifically, that of gasoline surged by 0.24 million tonnes or 49% to 0.73 million tonnes, and that of jet fuel jumped by 0.156 million tonnes or 17.5% to 1.05 million tonnes, while that of gasoil tumbled for four consecutive months to 0.484 million tonnes, down 0.018 million tonnes or 3.59% from last month.
However, compared with the actual export volume in April 2022, the volume of gasoline and gasoil fell by 25.44% and 8.27% respectively, but that of jet fuel inched up 8.91%, data from OilChem showed.
China continued to maintain planned refined oil exports at a medium level in April, after a high of 3.7-4.0 million tonnes over January-February and a medium of 2 million tonnes in March, as domestic market might face a reduction in supply due to a flurry of unit maintenance since March, with total overhauled capacity to exceed 41 million tonnes in April, coupled with a continuous decline in refined oil export profits, which even dropped to negative for gasoil, learned from OilChem.
Written by Sunny Fang, fss@oilchem.net
Edited by Navy Liu, navy@oilchem.net