China refinery run rates fall to 80.1% on planned maintenance

30 August 2012 11:58  [Source: ICIS news]

SINGSPORE (ICIS)--The operating rates of major Chinese refineries averaged 80.1% on Thursday, a slight fall of 0.32 percentage points from two weeks ago, according to data from C1 Energy, an ICIS service in China.

The drop was mainly because of a turnaround at Sinopec’s 100,000 bbl/day Qingdao refinery, which pulled down run rates in Shandong province by 10 percentage points.

The operating rates in east China increased by 3 percentage points as Sinopec Yangzi Petrochemical further raised crude throughput after restarting its 90,000 bbl/day crude distillation unit (CDU).

Major refinery run rates are expected to rebound in September because Sinopec will restart its units in Jingmen and Maoming after turnarounds.

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.

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

By: Jean Zou
+65 6780 4359

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