China:PetroChina boosts gasoil wholesale prices amid tightening supply after pipeline explosion

Chemical News: China:PetroChina boosts gasoil wholesale prices amid tightening supply after pipeline explosion

https://www.chemnet.com Jul 22,2010
PetroChina pushed up wholesale prices of gasoil in southern China, as its supply tended to be tight in the wake of pipeline explosion in Northeast China's Dalian, C1's survey found.

The oil giant raised gasoil wholesale prices by Yuan 50/mt in Jiangsu, Zhejiang and Shanghai in East China. The prices were also lifted in Central China, with the largest rise in Hunan Province, hitting Yuan 50-100/mt.
PetroChina's sales branch in Shanghai rationed gasoil supply, where inflows of outside gasoil have already been affected by 2010 Expo Shanghai before.
In southeastern Fujian, the refiner has halted gasoil supply for two days because of limited storage capacity.

PetroChina was now outsourcing gasoil in Jiangsu, Zhejiang, Shanghai and Anhui, bidding at Yuan 6,600/mt on CFR basis. However, it would be difficult for the major to make purchasing at the level, because CNOOC's offer was higher and private traders would cherish their resources on low stocks.
PetroChina kept gasoline wholesale prices unchanged in most areas amid sufficient supply and dull sales.

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