By JING YANG
Gasoline and kerosene stockpiles in China, the worlds
second-largest oil consumer, rose to the highest levels in at
least four years even as exports of the fuels surged last
Gasoline inventories increased by 1.8% in March from a month
earlier while kerosene supplies gained 4.5%, China Oil, Gas
, a newsletter
published by the official Xinhua News Agency
Stockpiles expanded to an estimated 7.48 million metric tons
and 1.87 million, respectively, the highest since January
2010 when Bloomberg started compiling the data.
Fuel supplies climbed as refiners boosted operating rates,
according to OGP. Companies including China Petrochemical
& Chemical Corp.
and PetroChina processed 41.9 million tons of crude last
month, or about 9.9 million bpd, up 2.6% from a year ago,
data from the National Bureau of Statistics in Beijing showed
on April 16.
China exported the most gasoline in more than three years in
March and shipped the second-highest volume of jet fuel, the
General Administration of Customs reported this week.
Diesel stockpiles dropped 5.7% last month while commercially
held crude inventories fell 2.9%, according to OGP. The
newsletter stopped reporting volumes in July 2010.