Sinopec, PetroChina to refine 4% less crude in March

11 March 2013 07:07  [Source: ICIS news]

SINGAPORE (ICIS)--Sinopec and PetroChina are expected to process a combined 31.66m tonnes of crude in March, with daily throughput down by 4% from the previous month, company sources said on Monday.

The reduction is mainly because of turnarounds of some refineries.

Sinopec set its crude throughput target for March at 19.8m-20.0m tonnes, with daily throughput to fall by 19% month on month; PetroChina is expected to refine 11.7m-11.8m tonnes of crude in March, down by 7.2% on a daily basis from February, according to the sources.

Refineries affiliated to Sinopec and PetroChina are holding turnarounds in March. Sinopec Jinan Refinery and PetroChina Guangxi Petrochemical shut a combined 18m tonnes/year crude distillation capacity for turnarounds in early March. PetroChina Dalian Petrochemical is expected to carry out maintenance at its 4.5m tonne/year crude distillation unit (CDU) and a 1.4m tonne/year fluid catalytic cracker (FCC) in mid-March. In addition, Sinopec Hainan Refining & Chemical lowered its crude throughput on a turnaround at its 3.1m tonne/year residual hydrocracker.

The other refineries will mostly maintain stable crude throughputs in March.

The two oil majors’ crude throughput is expected to fall further month on month in April as more refineries start turnarounds, market sources said. Sinopec Guangzhou Petrochemical, Qilu Petrochemical and Shijiazhuang Refinery are expected to shut a combined 17m tonnes/year refining capacity in April.

Sinopec and PetroChina are the two biggest refiners in China.

By: Jean Zou
+65 6780 4359

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