Home / Commodities / Freight News / Petrochina makes first VLSFO exports after tax waiver

Petrochina makes first VLSFO exports after tax waiver

PetroChina exported first batch of very low sulphur fuel oil (VLSFO) after China waived consumption taxes and granted rebates on value-added taxes on the clean marine fuels, state-owned China News Service reported on Friday.

The 5,300 tonnes of VLSFO was produced by PetroChina’s Liaohe refinery and was put into a bonded storage, managed by China Marine Bunker Co, via Dalian customs.

The tax waiver helps PetroChina to save around 2 million yuan ($286,426.26).
Source: Reuters (Reporting by Muyu Xu and Chen Aizhu; Editing by Himani Sarkar)

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping