Beijing plans to maintain its restrictions on refined fuel exports through April, according to five industry insiders familiar with the situation, though limited exceptions may be granted to regional nations that have requested assistance.
Negotiations are underway for modest shipments of diesel, jet fuel and gasoline to Southeast Asian countries during April, three sources revealed. Export volumes under consideration range from 150,000 to 300,000 metric tons, depending on which source is consulted.
The sources, who requested anonymity because they lack authorization to discuss the matter publicly, indicated that independent export sales by refineries would continue to be prohibited.
Nations potentially eligible to receive Chinese fuel deliveries include Bangladesh, Myanmar, Sri Lanka, the Maldives and Vietnam, the sources indicated.
Any direct deliveries to these countries would be managed by Chinese government-owned companies, three sources confirmed.
China’s National Development and Reform Commission has not yet responded to requests for official comment.
Multiple nations, including the Philippines and Bangladesh, have approached China seeking fuel assistance since the Iran conflict began, as previously reported by Reuters. Beijing has expressed willingness to collaborate with Southeast Asian countries to help resolve energy supply shortages.
The Chinese government implemented export restrictions on diesel, gasoline and jet fuel beginning March 12. The prohibition does not apply to jet fuel used for international flight refueling and marine bunkering operations, and was not formally announced to the public.
Limited quantities of diesel and jet fuel continued to leave bonded storage facilities in Hainan province in southern China after March 12, with two knowledgeable sources explaining these shipments had already cleared customs procedures before the restrictions took effect.
Three vessels – Stavanger Pearl, Auchentoshan and Qian Chi – departed Hainan with combined diesel cargo exceeding 600,000 barrels following March 12. Ship-tracking information from Kpler and trade sources showed the first tanker headed to Mexico while the remaining two sailed for the Philippines.
