China’s state-owned refiners could export up to 16.9 million mt (869,000 b/d) of refined products over August-December — 44% more than the volume exported in the first seven months of the year, an analysis of latest information from industry sources and official data showed. The Ministry of Commerce last week issued the fourth batch of export quotas for 2015 totaling 9.9 million mt of oil products — triple the volume approved in the third batch and taking the total volume allocated so far for 2015 to 28.65 million mt, up 47% year on year, an industry source said. The products covered under the export quota includes gasoil, gasoline, jet/kerosene and naphtha. Chinese state-owned refiners need quotas or licenses from the government before they can export refined products. These companies seek export quotas based on their requirements but they don’t necessarily have to use up the allocated quotas. The quotas, […]