China’s Sinopec, PetroChina to refine 0.26% more crude in July

11 July 2012 07:13  [Source: ICIS news]

SINGAPORE (ICIS)--Sinopec and PetroChina are expected to refine a combined 29.3m-29.7m tonnes of crude in July, with daily throughput up by 0.26% from the previous month, sources from both companies said on Wednesday.

Sinopec and PetroChina are the two biggest oil refiners in China.

Sinopec’s crude throughput target for July is 17.6m-18.0m tonnes, which represents a 1.6% drop in its daily throughput compared with June.

PetroChina is planning to process 11.8m-11.9m tonnes of crude in July. That represents a 3.2% month-on-month rise in its daily throughput.

The planned combined throughput of the two majors was expected to rise in July because there are fewer refinery turnarounds during the month.

The two oil majors’ crude throughput may increase in August because of limited refinery turnarounds and an expected fall in their oil product inventories, market sources said.

By: Jean Zou
+65 6780 4359

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