Sinopec targets record high crude throughput in Q4

17 September 2012 09:35  [Source: ICIS news]

SINGAPORE (ICIS)--China’s largest refiner Sinopec has targeted to process 59.5m tonnes – the highest figure in the company’s history – of crude in the fourth quarter, a company source said on Monday.

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 Qingdao was shut on 20 August and will be restarted on 10 October, the source said.

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 Jinan in Shandong province in early September.

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.

By: Jean Zou
+65 6780 4359

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