China apos;s May Gasoline Exports Plunge LNG Imports Slide
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| - | <br>June 18 (Reuters) - China's May gasoline exports fell 45.5% from a year earlier and diesel exports plunged 92.7% despite stalling domestic demand, as companies ran short of export quotas, Chinese customs data showed on Saturday.<br>China exported 840,000 tonnes of gasoline last month, [http://istanbulclasse.net esenyurt escort] | + | <br>June 18 (Reuters) - China's May gasoline exports fell 45.5% from a year earlier and diesel exports plunged 92.7% despite stalling domestic demand, as companies ran short of export quotas, Chinese customs data showed on Saturday.<br>China exported 840,000 tonnes of gasoline last month, data from the General Administration of Customs showed, [http://istanbulclasse.net esenyurt escort] down from 1.55 million tonnes in May 2021 and 980,000 tonnes in April. Diesel exports sank to 120,000 tonnes from 1.68 million tonnes a year earlier and 530,000 tonnes the previous month.<br><br>Widespread lockdowns that began in March in the financial and commercial hub Shanghai to contain the COVID-19 virus hammered local consumption of gasoline, diesel and aviation fuel. Demand only started a modest recovery in late May with some easing of mobility restrictions.<br>Total refined fuel exports last month, which also include marine fuel oil, were nearly 40% below a year earlier at 3.27 million tonnes, the second-lowest monthly rate since July 2020, earlier data showed. Exports for the January-May period tumbled 39% on the year as Beijing slashed export quotas to curb excessive domestic refinery production. The swelling stocks as a result of stagnant fuel consumption prompted the [https://www.travelwitheaseblog.com/?s=government government] to issue an additional batch of permits in early June.<br><br>Saturday's data showed exports of jet fuel, including refuelling at Chinese airports for international flights, rose to 810,000 tonnes in May from 570,000 tonnes a year earlier, though down from 960,000 tonnes in April. China's imports of liquefied natural gas (LNG) dropped 28% on the year to 4.93 million tonnes, with year-to-date imports down 19.6% as consumers shied away from spot purchases in the face of hefty import costs <LNG-AS>.<br><br>Pipeline gas imports, primarily from Turkmenistan and Russia, jumped 26% on year to a record 4.15 million tonnes, exceeding 4 million tonnes for only the second time after reaching that level in December. Imports during the first five months were up 11.3% year-on-year to 18.42 million tonnes, data showed.<br>Table below shows trade details, volumes in million tonnes. Exports May y/y % change Jan-May y/y % change Gasoline 0.84 -45.5 4.86 -40 Diesel 0.12 -92.7 1.73 -83.7 Jet fuel 0.81 42.6 3.76 33.7 Import May y/y % change Jan-May y/y % change LNG 4.93 -28.1 26.49 -19.6 (Reporting by Chen Aizhu and Dominique Patton; Editing by William Mallard)<br> |
