China eases controls on fuel exports for a second month

SINGAPORE - China has ​eased limits on refined fuel exports for ​a second month in August, giving refiners temporary approval to ship 2.7 million metric tons to destinations excluding ‌Hong ⁠Kong and ⁠Macau, five industry sources with knowledge of the ​matter said.

Refiners are also allowed to roll over some ​of the August allowances to September because of the tight timeline for spot sales, two ​of the people said.

Including ⁠shipments to ‌Hong Kong and jet fuel ​refuelling ​for international flights at Chinese airports, ⁠the August programme is estimated to reach 3.6 ​million tons for August.


That's an ​increase from July's total export plans - including shipments to Hong Kong and bonded jet fuel sales - of up to 2.5 million tons, according to estimates.

The quotas cover ‌gasoline, diesel and jet fuel.

The National Development & Reform Commission, which oversees the fuel ​quotas, ​did not ⁠immediately respond to a request for comment.

China began curbing fuel exports in March, with significant cuts through June, ​to safeguard domestic fuel supply amid disruptions from the Iran war.