China Sinopec gets Q4 diesel export quota of more than 1mn tonnes

SINGAPORE: Top China refiner Sinopec Corp has received quota from the government to export more than 1 million tonnes of diesel in the fourth quarter of the year, industry sources said on Monday.

China controls diesel exports through quotas to a few state-run traders after sizing up domestic needs. Beijing has approved fourth-quarter export quotas for Sinopec, a source close to the matter said.

The source said the volumes approved are more than 1 million tonnes for the quarter, declining to give specific numbers.

Traders said the approved volumes are about 1.2 million tonnes for the fourth quarter or about 400,000 tonnes each month.