PetroChina’s Jinxi refinery exports first cargo of low-sulphur marine fuel
China’s Jinxi Petrochemical Corp, a refinery unit of state-owned PetroChina, last week loaded its first shipment of very low-sulphur fuel oil (VLSFO) for marine bunker hub Zhoushan, parent company China National Petroleum Corp (CNPC) said.
The 3,000-tonne cargo was Jinxi’s first export of the cleaner marine fuel to supply international vessels at Zhoushan port in east China, following a government tax-waiving policy in January to encourage exporting the fuel that meets the new global emission rules.
The plant, based in the northeastern province of Liaoning, manufactured the marine bunker by blending semi-refined fuels such as catalytic diesel, vacuum residue and gas oil from coking unit, CNPC said.
One of PetroChina’s nine designated producers of VLSFO, Jinxi will be able to make 700,000 tonnes a year of the cleaner shipping fuel, the parent company said.
State refiners China National Offshore Oil Corp (CNOOC), PetroChina, Sinopec and privately-run Zhejiang Petrochemical Corp (ZPC) were among the first to export VLSFO under the new tax regime, putting the oil into bonded storage in the ports of Dalian, Shandong and Zhoushan.
Source: Reuters (Reporting by Chen Aizhu; Editing by Aditya Soni)