April 28, 2020 / 9:09 AM / a month ago

China set to issue first-ever export quotas for VLSFO of 10 mln T for 2020 -sources

SINGAPORE/BEIJING, April 28 (Reuters) - China is set to release its first-ever quotas to export very low sulphur fuel oil with total volumes of 10 million tonnes for this year, six industry officials with knowledge of the matter said on Tuesday.

The quotas will be issued to four state run firms - Sinopec Group, CNPC, China National Offshore Oil Company (CNOOC) and Sinochem Group - as well as private refiner Zhejiang Petrochemical Corp.

Sources requested anonymity as the matter is not public.

China’s Ministry of Commerce did not immediately respond to a request for comment. (Reporting by Shu Zhang and Chen Aizhu in Singapore and Muyu Xu in Beijing, editing by Louise Heavens)

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