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PetroChina reduces exports by 60%
Latest Updated by 2006-05-19 10:20:54

It was learned from PetroChina, China's largest oil magnate, that its refineries' work load has reached 99% of its capacity, the highest record in history. The company has cut its export by a margin of more than 60% to save resources within China in the face of overly tight oil product sources in the country.

 

Diesel oil shortage first appeared in Guangzhou in April. Some petrol stations have no oil in store and some restrict the filling amount. In view of this situation, PetroChina explained that actually its sources were currently abundant, but since its refineries are mostly situated in the northwest and northeast regions of China, it is hard to transport its oil products to the southern market. These days, PetroChina is striving to increase transport of oil products with the vigorous support of railway departments.

 

According to its announcement, PetroChina has been strictly controlling oil product export since April. Except for a small quantity of oil products produced from imported materials which must be exported as the Customs prescribes, the company has saved all of its resources within the country. Its export volume has reduced 62% year on year, while its overall domestic supply has increased 9.2%.

 

At the same time, PetroChina's refineries are operating with a high work load. The second quarter used to be the time for its refineries to check and repair equipment, but the company arranges that some refineries put off the repair work. In May, PetroChina carries on full-load production on the precondition of safety to increase market supply.

 

Moreover, PetroChina explicitly requires that all distributing enterprises do not over-price for any reason.

 

Editor: Yan

By: Source:chinanews.cn
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