Run rates of China’s major refineries rebound slightly to 81.3%

27 April 2012 10:35  [Source: ICIS news]

SINGAPORE (ICIS)--Operating rates of major Chinese refineries averaged 81.3% on 26 April, a rise of 2.31 percentage points from two weeks ago, according to C1 Energy, an ICIS service in China on Friday.

Dalian West Pacific Petrochemical and Sinopec Jingmen Petrochemical restarted a combined capacity of 11.5m tonne/year, while Sinopec Qingdao Refining & Chemical completed the turnaround at a 220,000 tonne/year sulphur unit, according to data from C1 Energy.

PetroChina Daqing Petrochemical shut down a 2.5m tonne/year crude distillation unit and some secondary conversion units for maintenance, the data showed.

Run rates at the other refineries were mostly recorded unchanged, according to the data.

The operating rates are expected to stay at 80-82% in early May when some major refineries will still be under maintenance, market sources said, adding that the rates may go above 85% in June when some of the turnarounds are completed.

The average refinery operation rate calculated from the run rates of China’s 35 major refineries that have a combined capacity of 7.26m bbl/day and account for 72% of the total capacity of the country’s major refineries.

Higher refinery operating rates typically lead to lower feedstock costs for China's chemical producers, which may in turn choose to increase their own production rates.

By: Amy Sun
+65 6780 4359

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