Economics
China ‘Airpocalypse’ Fight Shrinks Asian Refinery Profits
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China’s drive to cut pollution from vehicle exhaust is spurring the most gasoline exports since 2005 and reducing profit for regional refiners.
The country may ship more than 5.5 million metric tons of gasoline this year, 18 percent higher than in 2013, according to ICIS-C1 Energy, a commodities researcher in Shanghai. That will narrow profit from making the fuel in Asia by $1.70 to $11.96 a barrel this year, the lowest since 2010, said Jit-Yang Lim, an analyst at KBC Energy Economics in Singapore.