August 23, 2019 / 8:43 AM / 4 months ago

UPDATE 1-China's July gasoline exports surge 75% higher than a year ago

 (Updates with table)
    BEIJING/SINGAPORE, Aug 23 (Reuters) - China's gasoline
exports in July surged 75% from a year ago, customs data showed
on Friday, as refiners stepped up overseas shipments amid new
production and slowing domestic demand.
    Gasoline shipments were 1.56 million tonnes last month, data
from the General Administration of Customs showed, up for a
second month from 1 million tonnes in June and 890,000 tonnes in
July last year. 
    Traders had expected refiners to ship near-record amounts of
gasoline in July and August, with cargoes moving farther afield
to Mexico and Nigeria as plants sought outlets for their fuel to
soak up the swelling surplus at home, Reuters has reported.

    Diesel exports last month were 1.58 million tonnes, versus
2.07 million in June and 1.54 million tonnes in July 2018. The
diesel market is relatively tight, supported by a cut in
production by refineries in favour of gasoline.
    Monthly trade data also showed exports of jet kerosene were
1.38 million tonnes, versus 1.24 million in June and 1.16
million in July 2018. 
    July imports of liquefied natural gas (LNG) were 4.88
million tonnes, 18% higher than a year earlier and the highest
monthly number since January. 
    Below lists 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    July     y/y %        Jan-July   y/y % change
 Gasoline       1.56         74.5       8.34            0.1
 Diesel         1.58         -2.2      13.56           16.1
 Jet            1.38         19.6       9.82           21.6
 LNG            4.88         18.1      33.18           18.8

 (Reporting by Chen Aizhu in SINGAPORE and Muyu Xu in BEIJING;
Editing by Kenneth Maxwell and Christian Schmollinger)
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