PetroChina has placed orders for two MR-sized cargoes of imported gasoil for arrivals in September, with the combined volume at nearly 100,000mt, said a source close to Chinaoil, PetroChina's subsidiary.
These two cargoes are products with sulfur content at 350ppm, to the shipped to East China and South China, said the source. Just like PetroChina's gasoil imports in August, these cargoes are also from South Korea.
The company boosted gasoil imports for September to prevent supply shortage, some market sources noted. Some of the oil major’s refineries, such as Dushanzi Petrochemical and Changqing Petrochemical, are still conducting maintenance. Furthermore, gasoil output from its Dalian Petrochemical declined in the previous two months because of fires.
PetroChina’s refineries maintenance, together with some refinery maintenance by Sinopec, may result in a shortfall in domestic gasoil supply when demand is growing.
Apart from maintenance, low operation rates in some refineries are also one reason for tightening gasoil supply, a market source noted.
Previously C1 reported that PetroChina resumed gasoil imports in the third quarter, planning to import about 150,000mt of gasoil this quarter. The company already imported one cargo, about 50,000mt, for delivery to Guangdong in August.
Sinopec or CNOOC has no plan to import gasoil in September yet.
