China’s Jingmen Petrochemical to shut white oil plant from 26 Mar

13 March 2012 05:29  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Jingmen Petrochemical plans to shut its 200,000 tonne/year white oil plant in Hubei for a 20-day maintenance from 26 March, a company source said on Tuesday.

The company, which is a subsidiary of China’s state-owned energy firm Sinopec, will continue deliveries to contract buyers but will stop spot supplies during the plant’s turnaround, the source said.

Market sources said that the turnaround will shave white oil supply in central China by around 3,500 tonnes and could help bolster prices of the material.

No 3 white oil was traded at yuan (CNY) 9,150-9,500/tonne ($1,445-1,500/tonne) in the domestic Chinese market on 12 March, according to C1 Energy, an ICIS service in China.

($1 = CNY6.33)

By: Kim Lu
+65 6780 4359

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