S. Korean refiners to bask in China's fuel
Hong Kong - Yonhap
South Korean oil refiners are expected to benefit from China's move to increase fuel imports to help tackle an expected summer power shortage, a report said Wednesday. Starting from Friday, China will cut import duties for diesel and jet kerosene to zero percent and those for gasoline to 1 percent, an apparent move to boost imports of the fuel. The world's No. 2 economy is expected to face a power crunch as power demand usually rises during the summer.
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