China’s state refiners seek to resume fuel exports after halt
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China’s state-owned refiners are applying for government permits to resume fuel exports in May, citing high domestic stockpiles. Major oil companies like China Petrochemical and China National Petroleum are seeking approval to ship petrol and diesel after a halt due to the Iran war. Domestic fuel prices have risen, leading to weak demand, while export margins have increased. Inventories are at their highest levels since 2025 and 2024. The government has not yet responded to the permit requests, as China continues to prioritize energy security amid global supply challenges.
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