China’s Sinopec to raise base oils output by 11% in September

30 August 2012 06:41  [Source: ICIS news]

SINGAPORE (ICIS)--China’s largest oil refiner Sinopec plans to increase its base oils output by 11% month on month to about 100,000 tonnes in September, a company source said on Thursday.

The move is to cope with rising demand from the lubricant plants in China, which will peak in September-November, the source explained.

The company had already raised its production of base oils for August to 90,000 tonnes, 20% more than the output volume in July, according to the source.

The continuous growth in the major producer’s production has signalled a recovery in the Chinese domestic market for both supply and demand, industry sources said.

Therefore, China’s base oils prices are expected to firm in September, the sources added.

By: Whitney Shi
+65 6780 4359

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