PetroChina to shut Daqing base oils plant in late March

11 March 2013 09:40  [Source: ICIS news]

SINGAPORE (ICIS)--PetroChina plans to shut its 250,000 tonne/year Group I base oils plant at Daqing in Heilongjiang province in late March for a one-month routine turnaround, a company source said on Monday.

China’s Group I base oils supplies are expected to tighten in the spot market in March as most domestic producers will shut their units for maintenance and some Group I producers in Asia have also lowered their utilisation rates in the first quarter, industry sources said.

Meanwhile, demand for Group I grades rebounded in March during the consumption peak, the sources said.

Therefore, Group I prices are expected to firm in March, the sources added.

China’s Group I base oils were traded at yuan (CNY) 8,500-9,300/tonne ($1,366-1,495/tonne) in north and northeast China, up by CNY50/tonne from a week ago, traders said.

($1 = CNY6.22)


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

ICIS news FREE TRIAL
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