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UPDATE 1-China's Sept fuel exports sink as refiners run out of quotas, demand improves
October 23, 2017 / 7:43 AM / a month ago

UPDATE 1-China's Sept fuel exports sink as refiners run out of quotas, demand improves

* Gasoline exports lowest since Nov 2015

* Diesel shipments weakest since Jan

* Fuel exports year to date up yr-on-yr (Updating with details throughout)

BEIJING, Oct 23 (Reuters) - China’s gasoline exports in September fell to their lowest monthly level in almost two years, with diesel shipments dropping to the lowest since January, as domestic demand picked up ahead of winter and refiners ran out of quotas.

Gasoline exports GL-CNEXP fell by 32.4 percent from a year ago to 570,000 tonnes, the lowest since November 2015, according to data released by the General Administration of Customs on Monday.

Outbound diesel shipments DL-CNEXP in September were down 26.1 percent from a year ago at 1.18 million tonnes.

Major refiner Sinopec and PetroChina have applied for extra quotas to export more gasoline, diesel and jet fuel before the end of the year, sources told Reuters.

The Commerce Ministry issued a fourth batch of refined product export quotas in late September to ease oversupply in the domestic market.

Year-to-date gasoline outbound shipments were up 5.5 percent at 7.31 million tonnes, while diesel exports in the January-September period were up 11.4 percent at 12.02 million tonnes.

Kerosene exports JET-CNEXP in September were down 6.7 percent at 1.01 million tonnes, taking the total for the year so far to 9.08 million tonnes, up 0.2 percent, data showed. (Reporting by Josephine Mason; Editing by Christian Schmollinger and Kenneth Maxwell)

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