Customs data showed on Monday that diesel exports rose 181.8 percent to a record 1.53 million tonnes, almost tripling China's average monthly export volume in 2015.
Five Asian countries (Japan, South Korea, China, India, and Taiwan) accounted for 68% of global LNG imports in 2015. In the first six months of 2016, in total, these five countries only increased their LNG import volumes by 1% (0.2 billion cubic feet per day (Bcf/d)), compared to the same period last year. However, higher imports in China and India more than offset declines in LNG consumption in the established markets of Japan and South Korea.
Thailand's largest energy firm PTT Pcl plans to import at least 5 million tonnes of liquefied natural gas (LNG) in 2017, up from 3 million tonnes this year as local gas production fades.
The world's fifth-largest crude importer has continued to buy more crude oil from Iran since sanctions were lifted in January. Shipments of Iranian crude more than doubled to 7.22 million tonnes, or 248,616 bpd, in the January-July period of 2016 from a year earlier, according to its customs office data.
Indonesia's Pertamina has signed a deal with Petrochemical Commercial Company (PCC) of Iran for the import of refined petroleum and petrochemical products.
“In this underground lies the energy that China needs for the future. Currently, we are sending 600 Mbpd of crude to China, and we expect to increase this trade to more than 1 MMbpd within the next years.”
India will save about Rs 20,000 crore ($3bn) as it has renegotiated a long-term LNG import deal with Qatar, Prime Minister Narendra Modi said on Monday.
The group exploited 10.32 million tons of crude oil and 6.56 billion cubic metres of gas in the first seven months.
Indonesia is looking to increase imports of LPG, petrochemical products and crude oil from Iran in the near future. Earlier this year, Indonesia inked a deal to buy LPG from Iran.
"Growth in China's fuel exports will be strong throughout the third quarter," a Beijing-based trader said. "Refiners are starting to tighten crude runs as well as increase exports to balance the surplus in the domestic market."