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China's CNPC sells first gasoline to Americas; cargo heads to Bahamas

Reuters

BEIJING (Reuters) - Chinese state energy giant CNPC said on Tuesday it has sold its first ever gasoline to the Americas, with a 35,000-tonne cargo setting sail for the Bahamas on March 30, the latest sign that a fuel glut in China is growing.

The gasoline was produced at its Qinzhou refinery in Guangxi province, CNPC said in a statement posted on its website.

CNPC, parent of PetroChina , started selling its diesel to the Americas in 2015 due to the domestic surplus. Exports have totalled 840,00 tonnes so far, with destinations including Brazil and Peru.

Gasoline is mainly used in passenger cars, while diesel is used in heavy machinery.

(Reporting by Josephine Mason and Meng Meng; Editing by Himani Sarkar)