11 January 2012 08:46 [Source: ICIS news]
SINGAPORE (ICIS)--Sinopec and PetroChina are planning to refine a total of 31.70m-31.80m tonnes of crude in January 2012, with daily throughput at about 1.03m tonnes, up by 1.4% month on month, company sources said on Wednesday.
The two companies are the biggest refiners in China.
Sinopec’s crude throughput target for January is 18.90m-19.00m tonnes, with its daily consumption up by about 0.9% to 613,000 tonnes, a company source said.
PetroChina is planning to process 12.70m-12.80m tonnes of crude in the same month, with its daily throughput at around 412,000 tonnes, up by about 2.8%, a source from the refiner said.
The total throughput is likely to increase because Sinopec Beihai Petrochemical and PetroChina Ningxia Petrochemical have started production, and the only maintenance scheduled by Sinopec and PetroChina for January is for some secondary units.
However, the month-on-month growth is small as Beihai Petrochemical and Ningxia Petrochemical have not started operating at high rates yet. The throughput at some refineries will drop as the demand for oil product weakens around the holiday for the Lunar New Year in late January.
The crude throughput will probably decline in February since Sinopec plans to undertake maintenance at a 5.5m tonne/year crude distillation unit (CDU) in Anqing, a 3m tonne/year CDU in Maoming and an 8m tonne/year CDU in Zhenhai.
Sinopec has a total of 35 refineries with a combined capacity of 260m tonnes/year and PetroChina has 31 refineries with a total capacity of 180m tonnes/year, according to C1 Energy, an ICIS service in China.
For more on Sinopec, PetroChina and other producers, visit ICIS company intelligence
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