12 August 2013 09:02 [Source: ICIS news]
SINGAPORE (ICIS)--Sinopec and PetroChina are expected to process a combined 30.55m tonnes of crude in August, with the daily throughput to hit the lowest level of this year, company sources said on Monday.
The combined daily throughput is at 985,500 tonnes/day, down by 3.87% from the previous month.
Sinopec, China’s biggest refiner, set its crude throughput target for August at 19.1m-19.3m tonnes, with daily throughput to fall by 4.05% month on month, according to the sources.
The country’s second biggest refiner PetroChina is expected to refine 11.2m-11.4m tonnes of crude in August, down by 3.58% on a daily basis from July, the sources said.
August is the peak period for turnarounds at subsidiary refineries of Sinopec and PetroChina in 2013. The total capacity shut at the refineries reached 49m tonnes/year in the month. This accounts for 7.5% of the total crude processing capacity at the refineries, ICIS C1 data showed.
However, the decline in crude throughput will be partly offset by the resumed throughput of Beihai Petrochemical, West Pacific Petrochemical and Harbin Petrochemical, all of which completed turnarounds at their units in July.
The two oil giants’ crude throughput in September may increase slightly because of fewer scheduled turnarounds at their refineries, and the start-up of new units by Anqing Petrochemical, market sources said.
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