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Refiners to raise diesel imports
By Richard Fu |
November 20, 2010, Saturday
|
Print Edition
Print Edition
CHINA'S two main refiners are boosting diesel imports to help solve a shortfall across the nation.
Sinopec Corp plans to import at least another 200,000 tons of diesel after buying 80,000 tons earlier this month, according to a company newsletter. PetroChina Co has also ordered 35,000 tons of diesel from international markets.
The shortage of diesel, used by heavy-duty trucks and power generators, came as the peak demand season approaches and after the government rationed power supply to some factories to meet national energy efficiency targets. The restriction prompted some factories to use their diesel generators.
Some privately owned refiners also stopped processing as higher international crude prices make the business unprofitable, industry sources said.
Xinhua news agency reported earlier this month that more than 2,000 pump stations in the country's southern and eastern regions have run out of diesel.
A spokesman for Sinopec Shanghai has said diesel won't be rationed at local pump stations.
State-owned Sinopec and PetroChina have said they are boosting crude processing to record levels to ensure supplies of diesel.
Sinopec Corp plans to import at least another 200,000 tons of diesel after buying 80,000 tons earlier this month, according to a company newsletter. PetroChina Co has also ordered 35,000 tons of diesel from international markets.
The shortage of diesel, used by heavy-duty trucks and power generators, came as the peak demand season approaches and after the government rationed power supply to some factories to meet national energy efficiency targets. The restriction prompted some factories to use their diesel generators.
Some privately owned refiners also stopped processing as higher international crude prices make the business unprofitable, industry sources said.
Xinhua news agency reported earlier this month that more than 2,000 pump stations in the country's southern and eastern regions have run out of diesel.
A spokesman for Sinopec Shanghai has said diesel won't be rationed at local pump stations.
State-owned Sinopec and PetroChina have said they are boosting crude processing to record levels to ensure supplies of diesel.
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