China 2nd Batch Refined Oil Processing Trade Export Quotas

SCI99

2020-05-07

China 2nd Batch Refined Oil Processing Trade Export Quotas

Recently, MOFCOM issued the second batch of refined oil export quotas under processing trade. Therein, PetroChina and Sinopec were awarded with 800kt and 2,600kt quotas respectively. The details are as follows:

In 2020, the second batch of refined oil export quotas under processing trade dropped by 1.16% from the first batch. Meanwhile, the jet fuel export quotas under processing trade of 2020 2nd batch decreased by 30% from that of 2019 2nd batch. The reason was that influenced by the global public health issue, the international demand for jet fuel declined dramatically. Therefore, China issued less jet fuel export quotas.

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