China’s first carbon neutral oil cargo certification

Shanghai Environmental and Energy Exchange issued the certifications to the three parties respectively.

The 30,000 tonnes crude oil cargo was produced by Sinopec in Angola, shipped by Cosco Shipping and delivered at Ningbo Zhoushan port, and then be transported to Sinopec’s refinery for processing.

It could produce 8,963 tons motor gasoline, 2,276 tons motor diesel, 5,417 tons aviation kerosene, 2,786 tons liquefied petroleum gas, 6,502 tons marine diesel, and 2,998 tons low-sulphur marine fuel oil.

Sinopec is responsible for offsetting carbon emissions from crude oil extraction, storage, processing, transportation of petroleum products and combustion of automotive gasoline, automotive diesel and LNG; Cosco Shipping is responsible for offsetting carbon emissions from crude oil transportation and marine fuel oil combustion; China Eastern Airlines is responsible for offsetting the carbon emissions from aviation kerosene combustion.

The project is a milestone for China to develop a green and new transportation model for energy and transportation sectors.