Sinopec under pressure to hit diesel export quota

摘要

Sinopec and PetroChina have revised down their forecasts for diesel demand in 2013, and now expect it to fall compared with 2012, according to Argus China Petroleum. This will lead to an increase in exports, although domestic sales margins are more attractive. The oil giants predict that diesel demand will contract by around 1 % on the year to 3.4mn b/d in the fourth quarter. They will reduce crude runs and raise exports, making use of their recently granted export quotas.