MARKET STRUCTURE · REGULATORY · ASIA
China halts diesel, petrol exports
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China’s government verbally instructed the country’s largest oil refiners to suspend diesel and petrol exports immediately, sources said.
Why it matters
Officials from China’s National Development and Reform Commission met refinery executives and verbally called for a temporary suspension of refined product shipments. The suspension was described as beginning immediately. The products specified were diesel and petrol. The discussions were not public, and sources requested anonymity. The excerpt ties the instruction to disruptions in crude arrivals from the Persian Gulf.
Implications
- · Export scheduling and cargo nominations for diesel and petrol are interrupted for affected refiners.
- · Traders and shipping operators handling diesel and petrol export cargoes face reduced outbound volumes from China while the suspension remains in place.
Who is affected
- · Refinery export operations teams
- · Refined-products traders
- · Shipping and chartering operators
Source
Topics
World & Politics Trade & Tariffs Law & Public Safety Regulatory Actions Energy & Power Oil & Gas