21 July 2009 09:53 [Source: ICIS news]
GUANGZHOU (ICIS news)--China’s biggest oil refiner Sinopec produced 10% less ethylene in the first half of the year at ?xml:namespace>
Its ethylene output in the first six months was less than half its current annual capacity of 6.3m tonnes.
Production may have declined due to maintenance shutdowns at Sinopec’s crackers, analysts said.
Sinopec’s mainstream ethylene plants - the 1m tonne/year plant of Maoming Petrochemical in
The company's production statistics mirrored the broad decline in
With good margins on downstream olefins, Sinopec is expected to keep high operation rates of its ethylene facilities, industry sources said.
“Unless there’s [a] flooding of [ethylene] imports, we will run our unit at full swing in the coming months,” said a source from Shanghai Petrochemical.
High olefin prices provide cracker operators with stimulus to produce more, he added.
“Our sales of downstream PP and PE have always been good. We haven’t seen signs of demand falls and will keep high production,” said a source from Yanshan Petrochemical.
Sinopec’s production of synthetic resins decreased 4.19% to
Its synthetic rubber output was also down 11% to 409,000 tonnes in the same period.
Sinopec also produced 149m barrels of crude oil in the first six months of the year, up 1.2% year on year, with crude throughput rising 1.82% to 639m barrels based on the company’s statistics.
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