The first batch of China's refined oil export quotas for 2023 was issued recently, totaling 18.99 million tons, a year-on-year increase of 46%. In terms of companies, PetroChina 5.96 million tons, up 42% year-on-year, Sinopec 7.41 million tons, up 72% year-on-year, CNOOC 1.76 million tons, up 49% year-on-year, Sinochem 1.93 million tons, up 9% year-on-year, China Aviation Oil 60,000 tons, up 50% year-on-year, Zhejiang Petrochemical 1.67 million tons, up 25% year-on-year, and China North Industries Group Corporation 200,000 tons, up 33% year-on-year.
Comparison table of the first batch of China's refined oil export quotas in 2023
Company | 1st batch in 2023 (10K tons) | 1st batch in 2022 (10K tons) | YoY growth rate |
PetroChina | 596 | 421 | 42% |
Sinopec | 741 | 431 | 72% |
CNOOC | 176 | 118 | 49% |
Sinochem | 193 | 177 | 9% |
China Aviation Oil | 6 | 4 | 50% |
Zhejiang Petrochemical | 167 | 134 | 25% |
China North Industries Group Corporation | 20 | 15 | 33% |
Total | 1899 | 1300 | 46% |
Source: 315i.com
In the fourth quarter of last year, the fifth batch of refined oil export quotas issued resulted in a substantial increase in exports at the end of the year. While alleviating the pressure on domestic supply and demand, it also increased the efficiency of foreign trade exports. Entering 2023, with the vigorous implementation of epidemic optimization measures, changes in the number of infected people will cause a certain disturbance to the demand for refined oil domestically in the short term. The first batch of quotas has increased significantly year-on-year, which is expected to help domestic oil companies adjust the domestic trade situation and further improve overall operating profits.
Disclaimer: All the information on this website is provided on an “as is” and “as available” basis, and you agree to use such information entirely at your own risk. Monisight gives no warranty and accepts no responsibility or liability for the accuracy or completeness of the information and materials contained in this website.
Under no circumstances will Monisight be held responsible or liable in any way for any claims, damages, losses, expenses, costs, or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption, or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the Monisight has been advised of the possibility of such damages in advance.
Kommentare