CNOOC ships diesel cargo to Australia
China National Offshore Oil Corporation has exported 35,000 metric tons of diesel, which is up to Australian specifications for the fuel, the first shipment of its kind, a statement by the State assets regulator showed onWednesday. The cargo left CNOOC’s Huizhou refinery, in southern Guangdong province, on June 17 in a move “to seize the international high-end market of refined oil products”, according to the statement. The cargo meeting Australian specifications is the latest of Chinese exports to hit the market. China’s diesel exports rose more than fourfold in May from a year earlier to a record 1.48 million tons, customs data showed, reflecting a slowdown in China’s heavy industry, which typically uses diesel and continuing growth in throughput at independent refineries.