By JING YANG
China raised its net diesel exports to the highest level in
four years as domestic demand trailed output growth amid a
Overseas sales of the fuel in the worlds largest energy
consumer exceeded imports by about 440,200 metric tons in
June, according to data e-mailed by the General
Administration of Customs in Beijing on Monday. Thats
the highest since May 2010.
China is expected to export 300,000 to 400,000 tons of
diesel a month regularly as domestic production grows faster
than demand, said Chen Li, an analyst with ICIS-C1
Energy. Chinas diesel demand is estimated to grow 0.3%
to 1% this year, while output will expand about 1%, the
Shanghai-based consultant said last month.
The nation may export a record 3 million tons of the fuel
this year, exceeding the previous high of 2.87 million tons
in 2010, ICIS-C1 said. China Petroleum & Chemical
Corp.s Tianjin refinery
got a new diesel export
quota this year, according to ICIS-C1.
Chinas imports of fuel oil, used as refinery feedstock
and to power ships, fell
31% from a year ago to 1.4 million tons in June, the
second-lowest this year. Purchases in May were 1.13 million,
the lowest since at least 2003. Imports declined 32% to 9.8
million tons in the first half.
The nations pipeline natural gas imports rose to a
record high for a second month in June as supplies from
Myanmar continued to increase, todays data show.
Imports were at 2.1 million tons last month.