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Two Oil Giants to Import 720,000 Tons of Refined Oil for E China

PetroChina and Sinopec, China's two leading oil producers, are expected to import 720,000 oil products in July for eastern regions, as part of the nation's efforts to ensure sufficient oil supplies during the upcoming Beijing Olympics.

According to ChemNet, a major website for chemical and petrochemical industry information in China, the refined oil imports will be 18 percent higher than the June level.

Of the total, 370,000 tons will be bought by Sinopec, and 350,000 tons by PetroChina.

The Sinopec imports will include 210,000 tons of gasoline and 160,000 tons of diesel oil. Shanghai will receive 90,000 tons of gasoline and 30,000 tons of diesel oil, and Jiangsu, 300,000 tons of gas and another 30,000 tons of diesel.

The PetroChina imports will include 100,000 tons of gasoline and 250,000 tons of diesel oil.

Customs statistics show that China imported 21.01 million tons of refined oil in the first half of this year, a growth of 16.4 percent on the same period of last year. The total included 3.67 million tons bought in June, up 12.6 percent.

(Xinhua News Agency July 14, 2008)

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