16 May 2013 09:05 [Source: ICIS news]
SINGAPORE (ICIS)--The operating rates of major Chinese refineries averaged 83.0% on Thursday, down from 84.1% two weeks ago because of turnarounds at some refineries, according to data from C1 Energy, an ICIS service in China.
PetroChina’s Fushun Petrochemical brought off line its 160,000 bbl/day crude distillation unit (CDU) and some secondary processing units on 15 May for turnarounds, which pulled down the operating rate of its 220,000 bbl/day refinery to 30% from 85% two weeks ago.
Daqing Petrochemical posted a run rate of 30% at its 300,000 bbl/day refinery, down from 59% two weeks earlier due to a turnaround at 120,000 bbl/day CDU that started on 8 May. Meanwhile, the company restarted an 80,000 bbl/day CDU after a turnaround, which partly offset its loss in refining capacity.
Sinopec has lowered the utilisation rate of its 314,000 bbl/day Guangzhou refinery further by 6 percentage points to 32% after a shutdown at its 160,000 bbl/day CDU on 1 May.
Sinopec Qilu raised the run rate of its 280,000 bbl/day refinery from 42% to 75% after the completion of a 35-day turnaround at an 80,000 bbl/day CDU that started on 8 April.
Other major refiners mostly posted stable operating rates in the period.
The average 83% refinery operating rate was compiled from 35 major Chinese refineries that have a combined capacity of 7.43m 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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