OREANDA-NEWS. November 17, 2014. China is set to import more than 335,000 tonnes of naphtha and diesel in a rare move as the world's no. 2 oil consumer has been self-sufficient in producing oil products to meet domestic demand, industry sources said.

Unipec, trading arm of top Chinese oil firm Sinopec , has bought more than 300,000 tonnes of naphtha for delivery into China in a surprise move as traders said the Chinese firm rarely buys specifically for China.

They said that Unipec bought some of the cargoes, mostly for eastern China delivery, through tenders. The reasons behind the massive purchases were not known.

On top of the volumes already bought, Unipec has an outstanding tender that has closed this week to buy more for December delivery into eastern China. Traders said while the tender has closed, it may not have been awarded yet.

State-run Sinochem has bought at least 35,000 tonnes of diesel for delivery over October to November and could import more, industry sources said, while CNOOC and PetroChina have either already bought or are making enquiries to purchase diesel for imports for November.