Korea to Conditionally Ease Diesel Export Restrictions Amid Stable Crude Supplies
4 Articles
4 Articles
The government is raising the export limit for diesel fuel to 110% of the previous year's level, a cap that had been in place since the implementation of the petroleum price ceiling. The method involves allowing additional exports only if refineries fulfill their domestic supply obligations and secure adequate inventory. On the 29th, the Ministry of Trade, Industry and Energy announced that it would conditionally ease restrictions on diesel expo…
Korea to conditionally ease diesel export restrictions amid stable crude supplies
Korea will ease export restrictions currently imposed on diesel starting in November on condition that domestic supply remains stable, the industry ministry said Thursday. The Ministry of Trade, Industry and Resources said the government will allow diesel exports of up to 110 percent of the volume recorded in the same month a year earlier, up from the current cap of 100 percent. The higher cap will apply only when oil refiners fulfill their dome…
The government had restricted the export of petroleum products subject to price caps following the outbreak of the U.S.-Israel-Iran war, but is easing these restrictions exclusively for diesel fuel. For gasoline, kerosene, and the like, the government has decided to leave room for volume adjustments only upon an official diplomatic request, after reviewing factors such as alignment with national interests. On the 29th, the Ministry of Trade, Ind…
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