PetroChina Co. (PTR) and China Petroleum & Chemical Corp. (SNP), or Sinopec, will export a total of between 830,000 and 880,000 metric tons of gasoline in the third quarter, down from 960,000 tons in the second quarter, domestic energy information portal C1 Energy reported Thursday.

Sinopec may cut its gasoline exports to 30,000 tons between July and September, or about 25% of its usual exports in the third quarter, C1 said. PetroChina's third-quarter export quota remains between 800,000 and 850,000 tons, up from the previous quarter but in line with the same period a year earlier.

Sinopec said earlier this week that it planned to maximize gasoline output to meet stronger demand going into the busy season. Yet, even with an increase in domestic production, Sinopec may still face a gasoline shortfall of between 300,000 and 400,000 tons in the third quarter, C1 said. It has already turned to PetroChina for domestic gasoline supplies.
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