Tax incentives incentivize Chinese refiners to make VLSFO

摘要

After the Chinese government provided a tax waiver in Jan.to encourage exports of the IMO-2020-compliant fuel,PetroChina’s refinery unit Jinxi Petrochemical Corp.loaded a 3K-mt(20.1K-bbl)cargo of VLSFO to be sent to the East Chinese port of Zhoushan.According to PetroChina,Jinxi Petrochemical is able to produce 700K mt/y(12.8Kb/d)of VLSFO.