September 23, 2017 / 10:40 AM / 3 months ago

Domestic glut pushes up China gasoline exports

BEIJING/SHANGHAI (Reuters) - China’s gasoline exports rose in August as refiners continued to sell excess product abroad amid a domestic glut, customs data showed on Saturday.

August gasoline shipments rose 35.2 percent from a year ago to 910,000 tonnes, according to data from the General Administration of Customs.

Diesel exports rose to 1.47 million tonnes in August, up 38.2 percent on a year ago, data showed.

The gain came as state oil companies seek higher export quotas for the fourth quarter to take advantage of higher overseas profits and ease domestic oversupply. Some have already used most of their allocated volumes in August.

China issued a new batch of refined fuel export quotas to five state-run companies in September, but it is not yet clear if they will receive extra quotas.

Kerosene exports fell 7.8 percent from a year ago to 1.04 million tonnes in August.

China’s imports of liquefied natural gas (LNG) were up 39.7 percent at 3.14 million tonnes.

Reporting by Meng Meng and Andrew Galbraith; Editing by Muralikumar Anantharaman

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