Your Weekly Digest (Oct 23 - 27)

China independent refineries' crude import quotas vary with capacity commissioning rhythm

In detail, integrated refinery A firstly commissioned on December 8, 2018, and obtained 5 million tonnes import quotas in the same year for firing. Integrated refinery B put its Phase I project into production in 2019, while integrated refinery C came on stream in 2022. The corresponding import quotas increased steadily until these refineries reached full production.

In addition, Shandong Yulong Petrochemical is expected to commence production in 2024, hence the import quotas assigned to integrated refineries will keep rising. Looking ahead, OilChem believes that there are few possibilities that the government will issue a fourth batch of import quotas for independent refineries...Read More

China planned refined oil exports down 40% in Nov

China's planned exports of refined oil, namely gasoline, gasoil, and kerosene, are reported at 2.51 million tonnes in November, a monthly fall of 1.66 million t or 39.71%, and down 48% from last year, learned by OilChem.

The significant drop in planned refined oil exports is mainly attributed to the following three reasons:

First, there is possibility that the exporters will find themselves run out of export quotas in the fourth quarter when the totaled actual exports of refined oil in the first nine months in 2023 at 31.89 million t were equivalent to nearly 80% of the first three batches of export quotas at 39.99 million t.

Second,...Read More

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