February 14, 2020 / 7:23 AM / in 12 days

Petrochina makes first VLSFO exports after tax waiver -China News

BEIJING, Feb 14 (Reuters) - PetroChina exported first batch of very low sulphur fuel oil (VLSFO) after China waived consumption taxes and granted rebates on value-added taxes on the clean marine fuels, state-owned China News Service reported on Friday.

The 5,300 tonnes of VLSFO was produced by PetroChina’s Liaohe refinery and was put into a bonded storage, managed by China Marine Bunker Co, via Dalian customs.

The tax waiver helps PetroChina to save around 2 million yuan ($286,426.26). ($1 = 6.9826 Chinese yuan) (Reporting by Muyu Xu and Chen Aizhu; Editing by Himani Sarkar)

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