21 March 2013 09:51 [Source: ICIS news]
SINGAPORE (ICIS)--The operating rates of major Chinese refineries averaged 81.6% on Thursday, down by 2.1 percentage points from two weeks ago because of an increase in turnarounds, according to data from C1 Energy, an ICIS service in China.
The run rate of the 410,000 bbl/day Dalian Petrochemical declined from 82% to 55% because of the shutdowns at a 90,000 bbl/day crude distillation unit and some secondary units from the middle of March.
Sinopec shut a 2.8m tonne/year residue fluid catalytic cracker at its 160,000 bbl/day Hainan refinery after a breakdown, which pulled down its operating rate by 32 percentage points to 69%.
The 160,000 bbl/day Jinan refinery and the 200,000 bbl/day Qinzhou refinery are still off line.
Other major refiners mostly post stable operating rates in the period.
The average 81.6% refinery operating rate was compiled from 35 major Chinese refineries that have a combined capacity of 7.44m bbl/day. The combined capacity accounts for 70% of the total capacity of major refineries, according to C1 Energy.
Lower refinery operating rates tend to push up feedstock costs for China's chemical plants, which in turn may choose to reduce their own production.
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