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 ?xml:namespace>
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
Higher refinery operating rates tend to lower feedstock costs for
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