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Sinopec suspends diesel exports
Published on: 2010-11-22
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BEIJING --China Petroleum and Chemical Corp. (Sinopec), China's largest oil refiner, said Friday it has suspended diesel exports to relieve shortages in the domestic market, the state-controlled Xinhua news agency reported.

Sinopec also said it is seeking to import 200,000 tons of diesel.

PetroChina Co., China's largest oil producer, plans to import 200,000 tons of diesel. Some 35,000 tons of it has already arrived.

Insiders said China's diesel output in the first nine months soared, prompting the two oil giants to expand exports.

Sinopec attributed recent hikes in the domestic price of diesel to hoarding, seasonal factors, transport factors and energy-saving measures, Xinhua reported.

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