Run rates at China's 35 refineries average 82.7% in late September

28 September 2012 07:37  [Source: ICIS news]

SINGAPORE (ICIS)--China’s 35 major refineries are currently running at an average rate of 82.7%, a slight increase of 0.3 percentage points from two weeks ago, according to a survey by ICIS.

The refineries have a combined capacity of 7.26m bbl/day, which accounts for 72% of the total capacity of China’s major refineries.

Sinopec has ramped up production at its 160,000 bbl/day Yangzi refinery to above its capacity, with current run rate at 101%, up by seven percentage points from two weeks ago.

PetroChina, on the other hand, has raised run rates at its 260,000 bbl/day Lanzhou refinery by six percentage points from two weeks ago to 67% currently, according to C1 Energy, an ICIS service in China.

In October, the average operating rates of the 35 major refineries in China are expected to rise to 84-86% as Sinopec facilities are due to come back on stream, market sources said.

Sinopec’s 260,000 bbl/day Tianjin refinery will resume operations on 28 September, while its 100,000 bbl/day Qingdao refinery is due to restart on 20 October, they said.

Higher refinery operating rates brings down the cost of feedstocks for China's chemical plants, thus encouraging increased downstream production.

By: Jane Han

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