30 January 2012 06:41 [Source: ICIS news]
The oil giant is expected to see stable base oil output in February as most of its underlying refineries will resume normal operation after the week-long Lunar New Year holiday in late January, the source said.
The company will also postpone the maintenance of its 470,000tonne/year Group I base oil plant at Maoming in
Prices of Group 1 base oils in the domestic market are expected to increase by around yuan CNY200-300/tonne ($32-47/tonne) in February from their current value at CNY9,500/tonne.
Sinopec’s January base oils supply is estimated at about 6,000 tonnes, according to the source.
($1 = CNY6.33)
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