Foreign media, citing five sources familiar with the matter, report that China is preparing to extend restrictions on refined oil exports until April, but may grant exemptions for small-scale exports to countries in the region that have requested assistance.
Three of the sources said that discussions are still ongoing regarding the export of small quantities of diesel, jet fuel, and gasoline to Southeast Asian countries in April. Two of them stated that the total amount allowed for export may be up to 150,000 tons, while another source said it could be as much as 300,000 tons.
The sources said that spot export sales by refiners will still be prohibited.
The sources also mentioned that countries that may obtain fuel supplies from China include Bangladesh, Myanmar, Sri Lanka, the Maldives, and Vietnam.
According to Bloomberg, emerging Asian economies are among the hardest hit by the Middle East war, which has disrupted energy trade, pushed up prices, and led to widespread energy shortages. Some countries, including the Philippines, have stated that they will seek help from other countries in the region amid tight energy supplies.
Earlier this month, Beijing ordered a suspension of diesel, gasoline and jet fuel exports, which was seen as potentially exacerbating regional fuel shortages and further driving up energy prices in some Southeast Asian countries. China is one of Asia's most important fuel exporters.