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PetroChina has suspended exports of refined oil products to ensure sufficient domestic supplies, chairman Jiang Jiemin told the Shanghai Securities News Thursday. He also said the company was planning to import an additional 1.5 million tons of high-price refined oil in the second quarter following the same amount in the first quarter to stabilize domestic supply. Jiang also said he hoped the government would amend the special benefit levy it uses to subsidize domestic refiners for the difference between the cost of crude bought on the global market and government-fixed prices for refined oil products on the domestic market. Jiang said the levy kicked in when international oil prices ran between US$40 and US$50 a barrel, and the government said it would be raised it again if international prices exceeded US$80. “We submitted US$6.53 billion (RMB45.7 billion) to the government when the price hovered around US$60 last year,” Jiang said. “Now the price is around US$100, ...

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