China’s Daqing Petrochemical Group 1 base oils plant shut

30 April 2012 03:41  [Source: ICIS news]

SINGAPORE (ICIS)--PetroChina Daqing Petrochemical’s 250,000 tonne/year Group I plant is currently shut for a month-long maintenance, a company source over the weekend.

The plant was taken off line on 26 April, the source said.

Supplies of premium Group I base oils are expected to fall in the northeast China market during May-June, because of schedule maintenance at domestic plants, market sources said.

However, prices of Group I products are expected to remain stable in May despite the tightening of supply, as downstream demand is also likely to weaken next month, they said.

Group I base oils were traded yuan (CNY) 9,900-10,100/tonne ($1,571/tonne-1,603/tonne) ex-works on 28 April, according to C1 Energy, an ICIS service in China.

Daqing Petrochemical mainly produces Group I SN150, SN200 and SN400 base oils.

($1 = CNY6.30)

By: Whitney Shi
+65 6780 4359

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