18 April 2013 08:20 [Source: ICIS news]
SINGAPORE (ICIS)--The operating rates of major Chinese refineries averaged 80.8% on Thursday, up by 0.8 percentage points from two weeks ago mainly because of facility restart, according to data from C1 Energy, an ICIS service in China.
Sinopec Hainan Refining & Chemical brought on line a 3.1m tonne/year residue hydrogenation unit at its 160,000 bbl/day refinery, which pushed up the company’s operating rate by 43 percentage points to 114%.
However, the rise was partly offset by turnarounds at some secondary processing units of Sinopec Shanghai Gaoqiao. The company’s overall operating rate is at 62%, compared with 80% capacity two weeks ago.
The 410,000 bbl/day Dalian refinery, the 160,000 bbl/day Jinan refinery, the 200,000 bbl/day Qinzhou refinery and Sinopec Qilu’s 280,000 bbl/day refinery are still under maintenance.
Other major refiners mostly post stable operating rates in the period.
The average 80.8% 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.
Higher refinery operating rates tend to pull down feedstock costs for China's chemical plants, which in turn may choose to raise their own production.
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