Major Chinese refineries’ average ops rises to 84.8% in late Oct

25 October 2012 10:06  [Source: ICIS news]

SINGAPORE (ICIS)--The operating rates of major Chinese refineries averaged at 84.8% on Thursday, a rise of 1.28 percentage points from two weeks ago, according to data from C1 Energy, an ICIS service in China.

The rise is largely because of higher utilisations of two major Sinopec refineries.

Sinopec Qingdao ramped up operating rates at its 100,000 bbl/day refinery to 73% on 25 October from 51% two weeks ago.

Sinopec Guangzhou’s average operating rates rose by 28 percentage points from two weeks ago to 75% on 25 October after restarting its 104,000 bbl/day crude distillation unit (CDU) in the week.  

Most other refineries kept their operating rates stable over the past two weeks.

The refineries’ average operating rate of 84.8% was derived from the operating rates of 35 major Chinese refineries that have a combined capacity of 7.26m bbl/day. These refineries account for 72% of the total capacity of major refineries in China, according to C1 Energy.

Higher refinery operating rates tend to lower feedstock costs for China's chemical plants, which may in turn lead producers to increase their production.

By: Jean Zou
+65 6780 4359

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