China's Unipec Plans to Increase Diesel Imports in December on Shortage

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

19 Nov 2010

China International United Petroleum & Chemical Co., the nation’s largest oil trader, plans to boost diesel imports for a second month in December to ease a domestic shortage of the transport fuel. China International, or Unipec, plans to import 120,000 tons for December delivery, compared with 80,000 tons in November, according to an official with knowledge of the transactions, who declined to be identified because of company policy.
China Petroleum & Chemical Corp. and PetroChina Co., the nation’s two largest oil refiners, are maximizing diesel production in a bid to ease domestic shortages in the southern and eastern parts of the nation caused by factories using the fuel to power their generators.
Unipec, the trading unit of China Petroleum, is also exporting less diesel amid the shortages. November shipments may be as low as 10,000 tons, the official said. Exports were 90,000 tons in October and 120,000 tons in September.

Source: Bloomberg