13 September 2012 09:44 [Source: ICIS news]
SINGAPORE (ICIS)--Operating rates of major Chinese refineries averaged 82.4% on 13 September, an increase of 2.3 percentage points from two weeks ago, ICIS C1 data showed on Thursday.
Jingmen Petrochemical, Maoming Petrochemical and Liaoyang Petrochemical recorded higher crude throughput with turnarounds at some units complete. Jinling Petrochemical, Fushun Petrochemical and Jinan Refinery stepped up their throughput after expanding crude refining capacities. Additionally, Sinopec raised run rates at Luoyang Petrochemical by 5 percentage points, to 79%, to offset production losses caused by the turnarounds of a combined 360,000 bbl/day capacity at its Tianjin and Qingdao refineries.
The average 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.
Higher refinery operating rates tend to decrease feedstock costs for China's chemical plants, which in turn may choose to increase their own production
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