It is expected that China's diesel and gasoline imports will hit record highs in June as oil companies increase imports to ease the country’s severe supply shortage.
According to estimates by Beijing Jcache Energy Information Services, China Petroleum & Chemical Corp. (SNP) may import about 600,000 tons of diesel and 40 tons of fuel in June. Ten thousand tons of gasoline.
In addition, PetroChina Co., Ltd. (PTR) will also import 400,000 tons of diesel and 200,000 tons of gasoline, which will bring China's total diesel imports to a record 100% in June. Ten thousand tons, nearly 50 times the amount of 24,432 tons imported during the same period last year.
China’s gasoline imports in June will also reach a record 600,000 tons. In the same period last year, China did not import gasoline.
This will mark a major change in China’s role in the Asian gasoline market. Before the beginning of this year, China has been the largest gasoline exporter in Asia. Last year, China exported 4.64 million tons of gasoline, while import volume was only 226,998 tons.
However, since the end of last year, China’s gasoline exports have dropped sharply, while imports have shown a jump in growth, mainly due to the continuing shortage of domestic gasoline supply.
According to estimates by Beijing Jcache Energy Information Services, China Petroleum & Chemical Corp. (SNP) may import about 600,000 tons of diesel and 40 tons of fuel in June. Ten thousand tons of gasoline.
In addition, PetroChina Co., Ltd. (PTR) will also import 400,000 tons of diesel and 200,000 tons of gasoline, which will bring China's total diesel imports to a record 100% in June. Ten thousand tons, nearly 50 times the amount of 24,432 tons imported during the same period last year.
China’s gasoline imports in June will also reach a record 600,000 tons. In the same period last year, China did not import gasoline.
This will mark a major change in China’s role in the Asian gasoline market. Before the beginning of this year, China has been the largest gasoline exporter in Asia. Last year, China exported 4.64 million tons of gasoline, while import volume was only 226,998 tons.
However, since the end of last year, China’s gasoline exports have dropped sharply, while imports have shown a jump in growth, mainly due to the continuing shortage of domestic gasoline supply.
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