OREANDA-NEWS. February 20, 2013. After rising in December, China's fuel oil imports fell in january, to 2.14 million tonnes.C1 Energy reports.

The decline of 520,000 tonnes, or about 20 precent, was due to slow consumption and less supply from Europe, and also reflected a contrast with the unusually high December level.

the nation's imports from Europe, Russia, South Korea, Singapore, and other southeast Asian sountries fell significantly, but the volume coming from Venezuela rose sharply.

Venezuelan 380ct fuel oil reached the country on a China oil VLCC, and some fuel from Venezuela was also shipped to China through Singapore.

Last month, Deutsch Bank AG predicted that China's fuel oil demand may fall in 2013 as new government policies discourage its use as a refinery feedstock.