China tells oil refiners to suspend exports: Bloomberg report

BEIJING, March 5 — China has told its largest oil refiners to suspend exports of diesel and gasoline, Bloomberg News reported Thursday, as the war in the Middle East increasingly risks an energy supply crunch.

China is a net importer of oil and is one of several major Asian economies that depend on the vital Strait of Hormuz, where traffic is currently blocked, for energy.

The Middle East was the source of 57 percent of China’s direct seaborne crude imports in 2025, according to analytics firm Kpler.

Officials from China’s top economic planner, the National Development and Reform Commission, met with refinery representatives “and verbally called for a temporary suspension of refined product shipments that would begin immediately”, Bloomberg said Thursday, citing people familiar with the matter.

“The refiners were asked to stop signing new contracts and to negotiate the cancellation of already-agreed shipments,” the report said.

PetroChina, Sinopec, CNOOC, Sinochem Group and private refiner Zhejiang Petrochemical regularly obtain fuel export quotas from the government, Bloomberg said. — AFP 

 Malay Mail – Money