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China Refinery Run Rates May Drop Next Month, Oilchem Says

Saturday, 21 January 2012 | 00:00
China’s biggest oil refineries may reduce their operating rates by more than five percentage points next month as they shut units for maintenance, according to Oilchem.net.
Run rates may drop to as low as 82 percent of capacity in the second half of February, the Shandong-based industry website said on its website today. The rate was 87.25 percent as of yesterday, little changed from two weeks ago, it said. The estimate is based on a survey of 35 plants with a capacity of about 7.3 million barrels a day, or 71 percent of the nation’s total.
China Petroleum & Chemical Corp.’s 110,000 barrels-a-day Anqing refinery will be shut around the middle of next month and its Zhenhai refinery plans maintenance on a 161,000 barrels-a- day crude distillation unit, Oilchem.net said.
Refineries in the east of the country operated at 91 percent of capacity as of yesterday, while those in central regions were at 79 percent, the report showed. Plants in the south were at 94 percent, those in the northeast at 84 percent, the northwest at 90 percent, and the north at 85 percent.
Source: Bloomberg
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