November 23, 2019 / 3:48 AM / 19 days ago

China's Oct gasoline exports hit record level on domestic fuel surplus

    BEIJING, Nov 23 (Reuters) - China's gasoline exports in
October more than doubled from a year ago to a record as
refiners' increasing processing runs created a fuel surplus in
the domestic market, spurring overseas sales.
    Gasoline shipments were 1.73 million tonnes last month, data
from the General Administration of Customs showed on Saturday.
That compares to 1.67 million tonnes in September and 650,000
tonnes in October 2018.
    Diesel exports fell to 1.19 million tonnes from 1.48 million
tonnes in September.
    "Fuel demand would be under pressure in the domestic market
amid a slowing economy. Meanwhile, crude throughput is expected
to stay at a relatively high level in the coming months, which
would encourage refineries to seek buyers from other markets,"
said Wang Zhao, an analyst at China Sublime Information, ahead
of the data release.
    China's crude runs rose to 13.62 million barrels per day
(bpd) in October, just below the record of 13.75 million bpd in
September, as new large-scale refiners ramped up their
operations.
    Jet kerosene shipments were 1.58 million tonnes last month,
up from 1.5 million tonnes in September and 1.19 million tonnes
last year.
    Imports of liquefied natural gas fell 11.5% to 4.04 million
tonnes in October, dampened by the slowing economy and easing
coal reduction process in northern China.
    Below is the latest customs data on fuel exports in million
tonnes and imports of liquefied natural gas, or LNG, in million
tonnes.
    
 Exports               Month                  Year-to-date
 Products    October     y/y % change   Jan-Oct     y/y % change
 Gasoline    1.73        168.4          12.8        16.7
 Diesel      1.19        -17.7          17.54       11.5
 Jet         1.58        32.6           14.08       21.5
 Kerosene                                           
 Imports                                            
 LNG         4.04        -11.5          47.4        14.1
 
 (Reporting by Muyu Xu and Cate Cadell; Editing by Muralikumar
Anantharaman)
  
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