PetroChina targets 6% rise in crude throughput for 2012

29 December 2011 10:40  [Source: ICIS news]

SINGAPORE (ICIS)--PetroChina has set its crude throughput target for 2012 at 152.5m tonnes, up by 6% from 2011, a company source said on Thursday.

The volume accounts for 78-79% of its total capacity, according to data from C1 Energy, an ICIS service in China.

The oil giant will add 3.5m tonnes/year of refining capacity in 2012, up by 1.8% from the previous year, according to the source.

PetroChina Hohhot Petrochemical will start up a 5m tonne/year crude distillation unit (CDU) and close a 1.5m tonne/year one in June 2012, added the source. PetroChina Ningxia Petrochemical, which brought on stream its 5m tonne/year refinery in the middle of December 2011, is expected to step up its crude throughput in 2012.

Crude throughput of the above two refineries in 2012 may rise by 5.5m tonnes year on year, market sources said.

Only two refineries of subsidiaries to PetroChina will go into turnarounds in 2012, affecting 16.5m tonnes/year of refining capacity.

PetroChina will operate the other refineries at high rates in 2012 to ensure full supply of oil products to the domestic market.

PetroChina achieved 98.2m tonnes of crude throughput in the first three quarters of 2011, the oil major said in its quarterly report.

Its throughput is expected to reach 135m-136m tonnes for the whole year of 2011, accounting for only 94% of the target for the year but still 11% higher than the actual throughput in the previous year, according to C1 data.

PetroChina’s crude throughput was affected by the shutdown of a 10m tonne/year CDU at Dalian Petrochemical following a fire in July and the maintenance of some secondary processing units at some other refineries, market sources said.

By: Amy Sun
+65 6780 4359

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