China’s August gasoline exports nearly double from a year ago

Article content

China’s August gasoline exports

rose 97.4% from a year earlier, customs data showed on Sunday,

Article content

as refiners took advantage of fresh export quotas amid faltering

domestic demand.

Gasoline shipments were at 1.12 million tonnes last month,

while volumes for the January to August period were 30.4% lower

than the corresponding period last year, according to data from

the General Administration of Customs.

Diesel exports were at 830,000 tonnes, up 51.8% from August

2021, on healthy export margins. Exports for the

Article content

January to August period totaled 3.25 million tonnes, down 78.3%

on the same period last year.

Exports of jet fuel in August declined 15.4% from the same

period last year to 780,000 tonnes. However, year-to-date

shipments were 4.4% higher than the year before at 5.54 million

tonnes.

Analysts and traders had expected China’s exports of

gasoline, diesel and jet fuel to rebound in August to near the

highest for the year after Beijing issued more export quotas in

June and July.

China topped up with a fourth batch of export quotas of 1.5

million tonnes for this year, taking the total so far this year

to 24 million tonnes, still a third lower than 2021.

The customs data also showed that China’s liquefied natural

gas (LNG) imports in August fell 28.1% from a year earlier to

Article content

4.72 million tonnes. Shipments during the first eight months of

the year were also down 21.3% from the same time a year ago at

40.64 million tonnes amid high spot prices of the

super-chilled fuel.

Pipeline gas imports last month rose 9% on-year to 4.13

million tonnes, the data also showed. Year-to-date import

volumes were up 10.6% from a year earlier to 30.40 million

tonnes.

Table below shows trade details, volumes in million tonnes.

Exports August y/y % change Jan-August y/y % change

Gasoline 1.12 97.4 7.56 -30.4

Diesel 0.83 51.8 3.25 -78.3

Jet fuel 0.78 -15.4 5.54 4.4

Imports August y/y % change Jan-August y/y % change

LNG 4.72 -28.1 40.64 -21.3

Piped gas 4.13 9.0 30.40 10.6

(Reporting by Martin Quin Pollard, Writing by Emily Chow in

Singapore; Editing by Christian Schmollinger)