PetroChina to Cut April Distillates Supply to Southern China by 18%

PetroChina plans to supply a total of 1.16m tonnes of gasoline and gasoil to southern China in April, down by 18% from the previous month, a company source said.

The supply of gasoil will be 670,000 tonnes, down by 20% month on month; gasoline supply will decline by 14% to 490,000 tonnes, according to the source.

PetroChina set lower supply target because of refining losses and turnarounds at subsidiary refineries, the source told C1.

However, the supply cut may impose few impacts on the market as the demand is sluggish, the sources added.

PetroChina almost suspended oil product outsourcing with high inventories at present, the source also said.