Private Refiner News

China has issued new export quotas for the export of low-sulphur fuel oil (LSFO) used to power ships and for other refined fuels such as gasoline and diesel for the rest of 2021, according to a trading source and document reviewed by Reuters on Thursday.Under the new quotas, 1 million tonnes of LSFO can be exported while 1.579 million tonnes of refined fuels can be shipped, according to the source and the document issued by the Ministry of Commerce.The new issue brings this year’s total permits for refined fuel exports to about 38.6 million tonnes…

China's exports of clean marine fuels rose in December to a record since shipments began a year ago, taking 2020 exports of the ship fuel to 15.45 million tonnes, customs data showed on January 20, 2021.Chinese oil refineries began exporting very low-sulphur fuel oil (VLSFO) in January to comply with emission rules set by the International Maritime Organization (IMO), after Beijing granted tax incentives to boost production and help create a regional bunkering hub. In December…

China's low-sulphur marine fuel exports rose by a third in April compared with March to the highest level yet after it waived export taxes for domestic refiners to meet shipping demand, Chinese customs data showed.Chinese refiners began exporting in January very low sulphur fuel oi (VLSFO) with a maximum sulphur content of 0.5% to comply with emission rules for ships from the International Maritime Organization.Data from China's General Administration of Customs showed April exports of the ship fuel reached nearly 1.43 million tonnes…

China has issued 28 million tonnes of refined fuel export quotas in the second allotment for this year, little changed from the first batch of 27.99 million tonnes issued last December, according to four sources with knowledge of the matter.The quotas were released last week to five state oil companies, PetroChina, Sinopec, China National Offshore Oil Corp, Sinochem Group and China National Aviation Fuel Corp, the sources said.The new quotas, of mostly gasoline, diesel and aviation fuel…

China is set to release its first-ever quotas to export very low sulphur fuel oil (VLSFO) with total volumes of 10 million tonnes for this year, six industry officials with knowledge of the matter said on Tuesday.The quotas, which came in the wake of Beijing’s policy in January to offer tax sweeteners to boost local production of the fuel, paves the way for Chinese refiners to almost fully cover the demand from its coastal bonded marine fuel market of 12-14 million tonnes annually.The quotas will be issued to four state-run firms - Sinopec Group, CNPC, China National Offshore Oil Company (CNOO

India's Iran oil imports rose about 39 percent in June year on year, preliminary data obtained by Reuters shows. In the first half of 2016 India's Iran oil imports surged by about 58 percent to about 342,000 bpd, the data showed, in comparison with 216,500 bpd in the same period last year. HPCL-Mittal Energy, majority owned by state refiner Hindustan Petroleum Corp, halted oil imports from Iran in November 2012 under pressure from Western sanctions over Iran's nuclear ambitions. HPCL-Mittal Energy Ltd (HMEL), partly owned by steel tycoon Lakshmi N. Mittal, took a cargo from Tehran after a three-and-a-half year break. Last month HMEL took a million barrels of Iranian oil…

China's appetite for crude oil is expected to pick up later this year as storage comes online and new buyers emerge, even after its inbound shipments surpassed United States imports last month for the first time, traders and analysts say. China's crude oil imports hit a record 7.37 million barrels per day (bpd) in April, making it the world's biggest importer for the commodity last month. And despite slowing economic growth, China's crude purchases are expected to keep climbing in second-half 2015, supporting oil prices that have rebounded about 40 percent since touching six-year lows earlier this year due to a supply glut. "While most of the focus is on the supply side ...