China slashed the quota it allocates to oil refiners to export fuels such as gasoline and diesel, with an academic citing the country’s green targets as one reason behind the dramatic reduction.
Beijing is seeking to limit an unsustainable model of high crude imports and fuel exports, which generates pollution within the country, Dong Xiucheng, a professor at the University of International Business and Economics, said in a report in state-backed newspaper China Energy News on Monday. A tighter quota would help to achieve peak carbon emissions by 2030, he added.
