08 November 2012 08:19 [Source: ICIS news]
SINGAPORE (ICIS)--The operating rates of major Chinese refineries averaged at 86.2% capacity on Thursday, a rise of 2.2 percentage points from two weeks ago, according to data from C1 Energy, an ICIS service in ?xml:namespace>
The rise in operating rates is largely because Sinopec restarted a few units at its refineries in
The operating rates at Sinopec’s
The utilisation of its
Sinopec and PetroChina have raised their operating rates at their other major refineries as well.
However, the average operating rate was partly offset by the utilisation of PetroChina’s subsidiary Lanzhou Petrochemical. Its operating rate fell by four percentage points to 64% capacity after a turnaround.
The average refinery operating rate was compiled from 35 major Chinese refineries that have a combined capacity of 7.36m bbl/day.
The total capacity increased from the previous 7.26m bbl/day, as the crude refining capacity of Sinopec Jinling rose to 360,000bbl/day.
The combined capacity accounts for 73% of the total capacity of major refineries, according to C1 Energy.
Higher refinery operating rates tend to lower feedstock costs for
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