Sinopec to buy more diesel fuel

   Date:2007/11/26     Source:

CHINA Petrochemical Corp, better known as Sinopec Group, one of the country's oil giants, will import another 80,000 tons of diesel oil by the end of this month to help guarantee domestic supplies.

The fuel will arrive in two cargoes, one going to the southern province of Guangdong and the other to the eastern province of Zhejiang, according to the Guangdong Province-based New Express Daily.

The firm has imported 383,000 tons of refined products, including 90,000 tons of gasoline and 293,000 tons of diesel oil, since September, said the report.

The company will still import another 316,000 tons of refined products next month to ease domestic shortages. Sinopec was also likely to purchase stockpiles from private domestic companies at international prices, the report said.

The government has ordered oil firms to increase production and imports to avoid emergency fuel shortages.

But many regions still face a tight diesel market.

2005- www.researchinchina.com All Rights Reserved 京ICP备05069564号-1 京公网安备1101054484号