The Ministry of Commerce sets the export quota for refined oil products of state-owned enterprises in 2008 for export of rated oil products and rated state-owned enterprises in 2008

PetroChina Co. (PTR, China Petroleum) executives said on Friday (April 18th) that China’s Ministry of Commerce has already transferred this state-owned company and China Petroleum & Chemical Corporation, which is also a state-owned company. China Petroleum & Chemical Corp. (SNP, SNP) issued 2008 export quotas for refined oil products.
The executive, who declined to be named, said that the government has drastically reduced the kerosene export quotas of the two companies, but basically kept the export quotas for gasoline and diesel unchanged.
The above export quota will take effect immediately. These quotas basically cover all gasoline, diesel, kerosene, and naphtha that China exports to the outside world.
These export quotas involved a total of 7.95 million tons of refined oil products, compared with 9 million tons in 2006. The reporter did not know about the 2007 oil export quota.
The export quota for kerosene is 1.5 million tons, which is far below the 4.48 million tons exported in 2007.
In 2008, the export quotas for gasoline, diesel and naphtha were 4.85 million tons, 400,000 tons and 1.2 million tons respectively.

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