China Net Diesel Exports Rose in January to Highest in 27 Months

China, the world’s second-biggest oil consumer, boosted net diesel exports to the highest level in 27 months in January as domestic stockpiles increased.

Overseas sales of the fuel exceeded imports by 309,273 metric tons, according to data e-mailed by the General Administration of Customs today. That’s 22 percent higher than December and the most since October 2010, according to data compiled by Bloomberg.

Overseas diesel sales rose at the same time commercial inventories of the fuel jumped 18 percent at the end of January from a month earlier, a report from Xinhua News Agency’s China Oil, Gas & Petrochemicals newsletter said Feb. 21. That’s equivalent to 9.48 million tons, the highest since June, according to Bloomberg calculations.

Diesel exports last month rose threefold from a year ago to 379,583 tons, while imports increased 38.5 percent to 70,310 tons, today’s data show. Gasoline exports climbed 12 percent to 315,345 tons, while imports were at 15 tons.

China’s imports of natural gas through the Central Asia pipeline, mostly from Turkmenistan, rose 45 percent to 1.49 million tons last month while liquefied natural gas imports gained 16 percent to 1.51 million tons.

Crude imports from Iran fell 36.9 percent from a year earlier to 1.32 million tons, according to the data.

— With assistance by Jing Yang

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