10 November 2010 10:15 [Source: ICIS news]
“Our group cut base oils output by 10% in November as we allocated more feedstock to boost diesel production,” a source at petrochemical giant Sinopec said in Mandarin.
Diesel consumption in
Sinopec subsidiary Jingmen Petrochemical, which has a 250,000 tonne/year base oils capacity, would halve its monthly output in November to less than 7,000 tonnes, the source said.
“Most output was [being] supplied only to Sinopec's lubricant plants and the group doesn’t have available stocks to sell to the market,” he said.
Meanwhile, PetroChina had suspended spot market sales of base oils this month as production would not even hit 60% of its average monthly output, a company source said.
Apart from beefing up its diesel production rates, PetroChina also shut some plants for maintenance this month.
This included a 700,000 tonne/year naphthenic base oil refinery in Karamay, Xinjiang province, and a 150,000 tonne/year Group I base oils refinery in
Most regions in
($1 = CNY6.64)
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