Business     

China is net importer of diesel

Shanghai Daily, September 22, 2011

• China was a net importer of diesel in August as it bought more fuel because domestic refineries undertook heavy regular maintenance on their facilities.

  Net imports totaled 40,000 tons last month, data from the General Administration of Customs showed yesterday. Imports jumped 56 percent from July to 250,000 tons while exports surged 17 percent to 210,000 tons.

  Analysts said China became a net importer as domestic diesel stocks fell after refineries shut units for maintenance while farmers and fishermen used more of the fuel in the harvest season.

  China's imports of liquefied natural gas last month fell 11 percent from July's to 1.05 million tons as it bought less toward the end of the summer peak demand season, customs data showed. Still, the August imports were 5 percent higher from a year earlier.

  The country paid US$9.50 per million British thermal units on average for the super-cooled fuel in August, according to calculations based on customs data, the highest this year.

  Coal imports dropped 5 percent to 16.6 million tons from July's record high of 17.5 million tons.

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