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CN Reportedly Requests Major Refiners to Suspend Diesel and Gasoline Exports
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Amidst the escalation of Middle East conflicts disrupting crude oil transportation, the Chinese government has verbally requested domestic refiners to suspend diesel and gasoline exports, Bloomberg, citing people with the knowledge of the matter, reported. Refiners have been asked to stop signing new contracts and to negotiate the cancellation of existing shipping agreements, sources divulged. However, aviation kerosene and marine fuel oil stored in bonded warehouses, as well as fuel destined for Hong Kong and Macau, are not subject to this restriction. PETROCHINA (00857.HK), SINOPEC CORP (00386.HK), CNOOC (00883.HK), Sinochem Group, and Zhejiang Petroleum & Chemical regularly receive fuel export quotas from the government, but none of these five companies have responded to the report. AASTOCKS Financial News Website: www.aastocks.com |
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