New refinery pushes China's product exports higher

摘要

Data from the General Administration of Customs indicate China exported 7.21MM mt(-1.82MM b/d)of refined products in March.Hengli Petrochemicals brought its 400K-b/d greenfield refinery up to full commercial operations,making more products available for export.Beijing had also granted higher export quotas for the year.China exported 2.71MM mt(657K b/d)of diesel in March-a new record,a 79.4 month-on-month surge,and a 14.2 year-on-year increase.Average exports during March 2018 through Feb.2019 were 1.63MM mt/month(403K b/d).Total diesel exports in 1Q were 28.9 higher at 6.06MM mt(506K b/d)