March 3, 2020 / 8:24 AM / a month ago

Sinopec's Maoming refinery exports first low sulphur ship fuel -website, source

SINGAPORE/BEIJING, March 3 (Reuters) - Sinopec Corp’s Maoming refinery exported low sulphur fuel oil in February for the first time, totalling 21,400 tonnes, according to a report on the state refiner’s website and a source with direct knowledge of the matter.

The supplies, of heavy grade and with low sulphur content, went into a bonded storage in south China’s Guangdong province where the 400,000 barrels per day Maoming refinery is based.

This new production, similar to pilot cargoes moved into bonded tanks along China’s coast by CNOOC, Zhejiang Petrochemical Corp and PetroChina, will benefit from a tax waiver policy Beijing announced in late January, the source said.

Reporting by Chen Aizhu in Singapore and Muyu Xu in Beijing; Editing by Susan Fenton

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