Business | Oil & Gas
China halts gasoline imports
China, the world's second-biggest energy consumer after the US, halted gasoline imports and halved diesel purchases last month as the economic slowdown dampened fuel demand growth.
- Bloomberg
- Published: 23:32 December 15, 2008
Shanghai: China, the world's second-biggest energy consumer after the US, halted gasoline imports and halved diesel purchases last month as the economic slowdown dampened fuel demand growth.
Diesel imports dropped to 40,000 metric tonnes, the lowest since August last year, from 80,000 tonnes in October, figures from the Customs General Administration of China showed on Monday.
Gasoline imports were 31,533 tonnes in October.
Fuel demand in China has contracted "sharply" since September because of the slowing economy, the China National Petroleum Corporation said on November 15.
The economy expanded by nine per cent in the third quarter, the slowest pace in five years.
Gasoline exports rose 27 per cent from a year earlier to 280,000 tonnes, the highest since July last year, according to the customs figures.
October exports were 210,000 tonnes. Diesel shipments were 30,000 tonnes from 110,000 tonnes in October.
The China National United Oil Corporation, the country's second largest oil trader, will halt gasoline imports for the fourth month in December, an official said.
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