August 23, 2019 / 8:13 AM / 6 months ago

China's July gasoline exports near record as domestic output climbs

BEIJING/SINGAPORE (Reuters) - China’s gasoline exports in July rose to near-record monthly levels, customs data showed on Friday, as refiners stepped up overseas shipments amid a wave of new production and slowing domestic demand.

Gasoline shipments reached 1.56 million tonnes last month, data from the General Administration of Customs showed, up from 1 million tonnes in June and 890,000 tonnes in July last year. The number was close to the monthly record of 1.69 million tonnes set in March.

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.

Meanwhile diesel exports 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 favor 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, 18.1% higher than a year earlier and the highest monthly number since January.

Reporting by Chen Aizhu in SINGAPORE and Muyu Xu in BEIJING; Editing by Kenneth Maxwell

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