PetroChina says demand causing diesel shortage, oil majors not to blame

The latest round of diesel shortages on the Chinese market is due to heavy demand and cannot be blamed on the activities of the country’s big two oil companies, said a spokesperson for PetroChina.

As reported by the Beijing Daily, Tian Jinghui, deputy head of PetroChina’s retail division, said the shortages are not the result of stockpiling by PetroChina and Sinopec.
The companies have been accused of withholding diesel supplies from the market in anticipation of a price rise later in the year.

But Tian said that for several months supply has simply not been able to keep up with surging demand.

Forbes