17 September 2012 09:35 [Source: ICIS news]
The targeted volume represents an increase of 8.8% year on year and 9.2% quarter on quarter, according to the source. Fewer turnarounds for Sinopec’s existing plants and planned start-ups of its new refineries will combine to boost its total crude throughput for the fourth quarter.
The refining giant plans to carry out maintenance for two refineries only. Its 160,000 bbl/day refinery in Qilu will shut on 8 October for 25 days, while its 100,000 bbl/day crude distillation unit (CDU) in
In addition, Sinopec is expected to have a larger combined refining capacity in the following quarter, because of its CDU expansion projects.
The Chinese major producer started up a new 3m tonne/year CDU at
Sinopec is also likely to raise its subsidiaries Jinling Petrochemical's refining capacity to 18m tonnes/year from 13.5m tonnes/year and Shanghai Petrochemical's integrated refining capacity to 16m tonnes/year from around 12m tonnes/year by late October.
Sinopec will increase its gasoil exports if domestic demand remains weak, the source said, adding that several of its subsidiaries have applied for gasoil export quotas for the upcoming quarter.
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