Wednesday, June 04, 2008

CNPC will continue to stop diesel oil export

China National Petroleum Corp (CNPC), the biggest integrated oil and gas company in China, said on Monday that it will continue to stop diesel oil export, whereas to increase diesel oil import to ensure the supply for the domestic market.

CNPC planned to import at least 2.4 million tons of diesel oil this year, it said, adding that its planned output of diesel oil in June will increase 7% compared to the previous month. Thus, the oil giant will add 1 million tons of diesel to the market in the future together with the 600,000 tons processed by its local contracted-refiners.

CNPC has stopped diesel oil export since September 2007. Before this suspension, the company exported over 60,000 tons of diesel oil each month.

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