China Is Poised to Export a Lot More Fuel to an Energy-Starved World
- Beijing expected to issue 15m tons of oil-product export quota
- Power generators may snap up diesel as gas prices surge
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China is poised to export a lot more fuel as Beijing strives to boost its economy by raising refinery runs amid flagging local consumption.
Some 15 million tons of fuel-export quota is expected to be released, according to industry consultants JLC and Energy Aspects Ltd. The allocations will allow the four big state-owned refiners and one private processor to sell more gasoline, diesel, jet fuel and fuel oil to overseas buyers at a time when frequent virus lockdowns and a property crisis have suppressed local demand.