PetroChina and Sinopec are expected to supply a total of 3.24-mil mt of gasoil and gasoline in Zhejiang, Jiangsu and Shanghai in October, down by 90,000mt or 2.7% from September, company sources said.
The two oil giants will cut wholesales of gasoil to ensure the supply to end-users, as demand from agriculture and transportation sectors will rise.
Low run rates of underlying refineries also impelled to Sinopec set lower wholesale plan, according to the sources. The major will basically halt wholesales in Jiangsu and Shanghai in October.
Wholesale branches of PetroChina will be reluctant to sell gasoil in the month because of delayed replenishments and less allocations from the parent company.
