【ciolino's weekly ad】China cuts crude oil import quotas with first batch of 2019 allowances
By Florence Tan and Meng Meng SINGAPORE/BEIJING (Reuters) - China issued its first batch of crude oil import quotas for 2019 on Wednesday at a lower volume than for the same batch a year ago though expectations are for the volumes to climb later this ciolino's weekly adyear. The Ministry of Commerce granted quotas totalling 89.84 million tonnes to 58 companies in its first allowances for 2019, according to four sources with direct knowledge of the matter and documents reviewed by Reuters on Wednesday. This is down from the 121.32 million tonnes issued in the first batch of allowances for 2018, although the sources said Beijing may increase the overall volume for 2019 in a second batch of quotas later this year. Lower import quotas may signal slowing crude demand growth for the first half of 2019 in China, the world's largest oil importer and second-largest oil consumer. Private refiners, also known as teapots, received quotas for 70.65 million tonnes of imports, more than 20 percent lower than the first batch of quotas issued last year, according to the documents and Reuters data. This volume should be able to cover 10 months of their requirements, said Zhou Guoxia, a crude oil analyst with consultancy JLC. "The market, in general, does not have a upbeat outlook for imports. I think the drop in quota could likely mean easing growth in China's crude imports in the first half," said Zhou. One of the four sources, who works for a private Chinese refiner, said they received about a third of its annual quota in the first batch and expects to get the remainder in a second batch, which Beijing usually issues around September. However, the start up of new refineries in China in 2019 is expected to raise crude imports to a record, adding 630,000 barrels per day of new demand, 7 percent higher than last year, according to Beijing-based consultancy SIA Energy. Dalian Hengli Petrochemical and Zhejiang Petrochemical, which are starting up new refineries in 2019, have each received quotas of 4 million tonnes, according to the documents reviewed by Reuters. Dragon Aromatics, a petrochemical producer based in Fujian province, has also received import quota of 600,000 tonnes as it resumes operations at its condensate splitter, the sources said. (Reporting by Florence Tan in SINGAPORE and Meng Meng in BEIJING; Editing by Tom Hogue and Christian Schmollinger) View comments
相关推荐
-
Why Uranium Markets Are Gaining Interest
-
Blockchain Could Make Dismantling Nuclear Warheads More Secure: UK Report
-
Key Things To Understand About Peyto Exploration & Development's (TSE:PEY) CEO Pay Cheque
-
PRGX Global's (PRGX) Shares March Higher, Can It Continue?
-
Nio Deliveries Jump 109% In November, Boosts Production Capacity To Keep Pace With Rising Demand
-
A2Z Technologies Lists on Frankfurt Stock Exchange
- 最近发表
-
- UK finance minister Sunak to make statement on COVID support on Thursday
- UPLCQ Deadline: Bronstein, Gewirtz & Grossman, LLC Reminds Ultra Petroleum Corp. Investors of Class Action and Lead Plaintiff Deadline: November 2, 2020
- Global watchdog warns over financial staff curbs in pandemic
- Outcrop Gold Confirms High Grade Gold & Silver Megapozo Target at Santa Ana
- Paycom Software, Inc. to Host Earnings Call
- People are getting this unexpected stimulus check. Should you keep it?
- After Facebook deal, Reliance Jio rakes in $747 million from PE giant Silver Lake
- CRON INVESTOR FILING DEADLINE: Bernstein Liebhard LLP Reminds Investors of a Filing Deadline in a Securities Class Action Against Cronos Group Inc.
- Hermès Opens Significantly Larger Shop in Las Vegas
- Is It Smart To Buy Garmin Ltd. (NASDAQ:GRMN) Before It Goes Ex-Dividend?
- 随机阅读
-
- Brazil manufacturing PMI rises to 38.3 in May from record low 36.0 in April - IHS Markit
- Read This Before Selling Altura Mining Limited (ASX:AJM) Shares
- American Airlines slashes flights but has no plans to halt U.S. service
- U.S. telehealth companies brace for demand spike as coronavirus spread accelerates
- Green Dot: 3Q Earnings Snapshot
- Ducks Unlimited Canada commends Government’s Fall Economic Statement that recognizes nature in Canada’s economic recovery
- Exclusive: Germany ready to nationalise airline Condor - sources
- Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Groupon, Inc. (GRPN)
- IMPORTANT INVESTOR NOTICE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against PaySign, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
- Is Ivy Small Cap Growth Y (WSCYX) a Strong Mutual Fund Pick Right Now?
- Interactive Brokers' (IBKR) October DARTs Up on Higher Trading
- CanWel Building Materials Group (TSE:CWX) Shareholders Have Felt Some Pain With A 19% Loss On Their Investment
- Retail sector companies turn to masks, gloves in coronavirus fight
- Pfizer-BioNTech seeks full marketing approval from UK for COVID-19 vaccine
- Former Walmart CEO says coronavirus will challenge department stores
- BRIEF-My Heart Bodibra Group Ltd Sees Increase In Loss For Nine Months
- Dow Surges 2% and Retakes 26K
- Were Hedge Funds Right About Dumping Retail Value Inc. (RVI)?
- Arch Coal (ARCH) Down 22.8% Since Last Earnings Report: Can It Rebound?
- Is Innovative Industrial Properties (IIPR) Stock Outpacing Its Finance Peers This Year?
- 搜索
-
- 友情链接
-
- The Global Physiotherapy Equipment Market is expected to grow from USD 14,684.89 Million in 2018 to USD 23,874.40 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 7.18%
- This Alibaba Stock Correction Offers an Opportunity You Can’t Refuse
- Drone Delivery Canada Begins Flights For First Paying Customer
- Skeljungur hf.: Changes to terms in market making agreements
- Dollar Slumps to Multi-year Lows; EUR/USD tracks 1.20
- Is Burlington Stores (BURL) a Solid Growth Stock? 3 Reasons to Think Yes
- Earnings Preview: Novanta (NOVT) Q3 Earnings Expected to Decline
- Insights into the Carbon Dioxide Industry in North America to 2028 - Growing Demand for Soft Drinks Presents Opportunities
- One Thing To Remember About The Chimerix, Inc. (NASDAQ:CMRX) Share Price
- Pennsylvania's Democratic governor calls Trump remarks 'partisan attack'