Sinopec Maoming exports 98 RON gasoline to Macau

Sinopec’s Maoming refinery in South China’s Guangdong province has been exporting around 2,000 metric tons per month of 98 RON gasoline to the neighboring Macau market since January 2010, in a bid to improve margins and ease pressure from high inventory. Till March, the 13.5 million metric ton per year (MTPY) refinery had exported more than 6,000 metric tons of 98 RON gasoline to Macau, the Sinopec website said. Margins have been very poor for Chinese refineries amid weak domestic sales and mounting inventory. To address this problem, Sinopec Corp. started subsidizing its affiliated refineries to export products in February. (March 17, 2010)