Industry news
U.S. First Western Country To import Chinese Gasoline
The U.S. has become the first country west of the Suez Canal to receive Chinese gasoline exports, says the London-based Energy Aspects. In a note the think-tank says that the shipment from Chinese refiner Sinochem Hongrun showed up in June customs data. China is ramping up its gasoline output, which was up 120,000 barrels a day month-on-month in June and 69,000 b/d year-on-year at 3.12 million b/d in June. Much of the new production is coming from independent refiners, known as teapots, which were finally allowed licenses to both import crude and export products by Chinese authorities in 2015.