China's Sinopec Henan Oilfield to restart Group I base oils unit

28 August 2012 07:15  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec Henan Oilfield is expected to restart its 50,000 tonne/year Group I base oils plant at Nanyang in Henan province, in north China, on 2 September, a company source said on Tuesday.

The company shut the plant on 26 August for maintenance, the source said, adding that some stocks will continue to be supplied in the local market.

However, the shutdown will not have significant impact on the Group I base oils markets in central and north China, which are well supplied, industry sources said.

Prices of Group I base oils are expected to firm in September as a result of rising demand from lubricant plants during the consumption peak, the sources added.

China’s lubricant producers will switch to producing low-viscosity products from September to December.

By: Whitney Shi
+65 6780 4359

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