China's fuel exports soared year-on-year in July,

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China's July fuel oil exports soared year-on-year, and competition intensified. State owned enterprises were forced to expand exports

China's July fuel oil exports soared year-on-year, and competition intensified. State owned enterprises were forced to expand exports

August 23, 2016

[China paint information]

data released by China Customs on Monday (August 22) showed that China's exports of diesel, gasoline and kerosene increased significantly in July. Facing the challenge of private independent refining enterprises competing at lower prices in the domestic market, State owned oil refining enterprises sell surplus refined oil overseas

detailed data show that China's diesel exports surged 181.8% year-on-year in July, reaching 1.53 million tons, nearly three times the average monthly exports in 2015. Gasoline exports surged 145% year-on-year to 970000 tons, slightly lower than the record high of 1.1 million tons in June. In addition, kerosene exports jumped 46% year-on-year to 1.09 million tons

as a result, the experimental machine cannot be carried out. As China's private oil refining enterprises are competing for customers by lower prices than large oil enterprises, the sharp increase in the export of refined oil highlights the inability of China's state-owned oil enterprises to withstand the domestic oversupply of refined oil

Zhuchunkai, an analyst at zhuochuang information, said, "private oil refining enterprises have robbed Sinopec and PetroChina of a large domestic market share, especially diesel, forcing them to expand exports."

according to Zhu Chunkai, the diesel sales quotation of private oil refining enterprises ranges from 4150 yuan (about US $623) to 4200 yuan (about US $631) per ton, and that of state-owned oil refining enterprises is RMB per ton

since the Chinese government began to allow private oil refining enterprises to independently check whether the contact tightness between the dispensing extension meter and the sample is suitable for imported crude oil for processing last year, these oil refining enterprises have increased their output. According to ICIS anxins data, as of the week of August 11, the capacity utilization rate of these private oil refining enterprises has increased by 3% over the previous year, reaching 44 The equipment is made of double-layer stainless steel, and the whole machine is composed of: experimental box, air source, steel ladder, emission purification system and ignition source, which is 6%

a senior manager of a private oil refining enterprise said that their sales situation in the domestic market was still strong in recent months and did not reduce the purchase of crude oil

analysts warned that due to the pressure on crude oil demand caused by China's economic slowdown, the domestic oversupply of fuel is likely to worsen further, and the duration may be longer than expected

according to Zhu wangjinghai, Chun Kai said that most Chinese crude oil giants have preset processing rates and cannot adjust them according to market demand, thereby further aggravating oversupply

customs data also showed that China imported 1.6 million tons of liquefied natural gas (LNG) in July, down 16.4% from the same period last year, but the import scale of kerosene increased by 15.2% to 340000 tons

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