China’s oil companies lifted exports of oil products — gasoline, gasoil and jet fuel — by 20.2% on the year to 55.36 million mt in 2019, having utilized 98.9% of oil product export quotas available during the year, according to data released by General Administration of Customs late Thursday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The Chinese government issued 55.994 million mt of oil product export quotas for 2019 and 48 million for 2018. The quota usage rate was higher than the 96% in 2018, suggesting that the oil companies had better arrangements in 2019 to maximize oil product exports in order to offset domestic market pressures. China uses quotas to control export volumes in order to avoid any drastic increase in crude imports and product exports, while addressing the country’s fossil fuel pollution issue. In 2020, the government has issued […]