Chinese products export quotas double

摘要

China's Commerce Ministry doubled first-quarter export quotas for clean products compared with a year earlier, according to Argus China Petroleum. The decision followed warnings by PetroChina and Sinopec that the domestic market faces a ballooning supply surplus. Chinese companies are allowed to market a total 1.83mn b/d of gasoline, diesel and jet fuel overseas the first quarter of this year, up from 856,000 b/d in the same period last year (see Table 1). The Ministry has increased the allowances for PetroChina and Sinopec-the country's main exporters of refined products-although neither of the companies utilised its full export quota in January-March 2015.