Fuel oil imports decline in Shandong

Tue 29 Apr 2014, 14:53 GMT

Fuel oil imports decline in Shandong

Imports of fuel oil into Shandong Province fell by 35 percent during the first quarter of 2014, according to government data.

Fuel oil imports into China's Shandong Province declined by 35 percent year-on-year to 2.67 million tonnes during the first quarter of 2014, according to data released by the General Administration of Customs.

Production rates at Shandong's plants declined in February as refinery maintenance increased, ICIS said. During the following month, imports of fuel oil continued to fall because of slow demand from independent (or 'teapot') refineries. The weak demand for imported fuel oil is said to be due to refining losses and weak oil product markets.

Fuel oil imports into Shandong during the first three months of the year accounted for 48 percent of the country's total, the data showed.

Meanwhile, inflows of fuel oil into east and south China also fell between January and March compared to last year, but were higher in north China.

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