China’s NDRC Urges More Coal, Diesel Supplies for Winter, Spring
China’s mines and oil refiners must boost supplies of coal and diesel fuel for heating and agriculture, the National Development and Reform Commission said in a notice.
Oil refiners should increase oil product supply, diesel in particular, to prepare for demand during the planting season in the spring, the nation’s top economic planner said in the statement on its website, without elabration. The market for both fuels is “generally” balanced between supply and demand “but there are still many uncertain factors that could affect stable supply,” the agency said.
China National Petroleum Corp. is operating its refineries at full capacity and will increase purchases from external sources to meet “strong” domestic fuel demand this month, the Beijing-based company said in its online newsletter today.
China’s apparent fuel demand, which includes net imports and domestic production, may rise 3.2 percent in December from year earlier to 20.8 million metric tons, CNPC said. Diesel demand may increase 2.6 percent to 12.9 million tons, it said.
CNPC imported 330,000 tons of diesel so far this year to meet domestic shortages, the company said.
To contact Bloomberg News staff for this story: Winnie Zhu in Shanghai at wzhu4@bloomberg.net
To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net
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