China’s Sinopec Jingmen delays Group I base oil unit restart

07 January 2013 06:02  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec Jingmen has decided to delay the restart of its 250,000 tonne/year Group I base oil plant at Jingmen in Hubei province to March, from late January originally, a company source said on Monday.

The company decided to postpone Group I base oil production in view of weak downstream demand in the Chinese domestic market, the source explained.

Existing Group I stocks will be sold to the company’s lubricant subsidiaries only and no spot supplies will be available during the shutdown, the source said.

The company raised its EXW (ex-works) offers for Group I grades by yuan (CNY) 200/tonne ($32/tonne) because of tight supply in the domestic market although it was not able to conclude any deals, the source added.

Sinopec Jingmen shut its 250,000 tonne/year Group I and 100,000 tonne/year Group II base oil plants at Jingmen in late December for maintenance.

Maintenance at the Group II base oil plant is completed and has resumed production.

($1 = CNY6.23)

By: Whitney Shi
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index