Chinese refineries’ run rates rise to 82.3%

06 July 2012 08:18  [Source: ICIS news]

SINGAPORE (ICIS)--The operating rates of major Chinese refineries averaged at 82.3% capacity on Friday, a slight rise of 0.82 percentage points from two weeks ago, according to data from C1 Energy, an ICIS service in China.

PetroChina subsidiary Jilin Petrochemical ramped up the run rates at its 190,000 bbl/day refinery to 97% of capacity after completing a turnaround on 20 June.

PetroChina subsidiary Liaoyang Petrochemical reduced the utilisation rate of its 200,000 bbl/day refinery by 12 percentage points to 73% in preparation for 15 days of maintenance, which will start on 20 July.

Major producer Sinopec maintained relatively low operating rates at its subsidiary refineries to offload their oil products.

The average 82.3% refinery operating rate was compiled from 35 major Chinese refineries that have a combined capacity of 7.26m bbl/day, which accounts for 72% of the total capacity of major refineries, according to C1 Energy.

Higher refinery operating rates tend to decrease feedstock costs for China's chemical plants, which in turn may choose to increase their own production.

By: Jean Zou
+65 6780 4359

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