Chinese diesel imports still high

摘要

Diesel imports were nearly 200,000 b/d in January, similar to December. China suspended a 17pc diesel import tax from December to March to help cover domestic shortages. And state-owned refiners Sinopec and PetroChina boosted imports to increase stocks ahead of the lunar new year holiday in February.Severe winter weather blocked diesel supplies from reaching retail outlets. Shortages arose because of demand to run portable generators to compensate for power cuts in 17 of China's 23 provinces in January. PetroChina increased February gasoil imports by another 25,000 b/d to meet extra demand, doubling previously secured imports for the month.