PetroChina To Sell 420,000 Tons Oil Products - 12 September, 2002

PetroChina Co. plans to sell about 420,000 metric tons of oil products to southern China's Guangdong province in September, slightly lower than the volume it sold there a month ago.

Of the total amount of oil products that will be sold to Guangdong in September, 310,000 tons will be diesel and 110,000 tons will be gasoline, he said.

He said PetroChina's oil products sales to Guangdong are lower in September because of "good demand" in PetroChina's major markets in the northeast, where most of the company's oil refineries are located.

In August, PetroChina sold about 470,000 tons of oil products to the province.

The high demand in the northeast has drawn slightly on PetroChina's oil products inventories there, which currently total around 930,000 tons, down from about 1 million tons at the end of last month.

Guangdong province is traditionally the market for China Petroleum & Chemical Corp. , or Sinopec Corp.