Sinopec to supply 15,000 tonnes base oils to local market in Sept

04 September 2013 08:57  [Source: ICIS news]

SINGAPORE (ICIS)--China’s largest oil refiner Sinopec plans to supply about 15,000 tonnes of Group I and II base oils to the domestic market in September, flat with last month, a company source said on Wednesday.

Most volumes will be produced by Sinopec Jingmen, Sinopec Henan Oilfield and Sinopec Ji’nan.

Sinopec Jingmen and Sinopec Henan Oilfield have Group I base oils capacities of 200,000 tonnes/year and 50,000 tonnes/year respectively, while Sinopec Ji’nan has a Group II base oils capacity of 150,000 tonnes/year.

Productions from Sinopec Beijing Yanshan, Sinopec Maoming and Sinopec Shanghai Gaoqiao will be reserved for captive use, the source said.

Sinopec will raise its prices for commercial supplies by yuan (CNY) 100-200/tonne ($16.30-32.70/tonne) for September, following the company’s price hike of CNY80/tonne to its affiliates, the source added.

Sinopec sold about 10,000 tonnes of Group I and II base oils in August, up by 50% from a month ago.

($1 = CNY6.12)

By: Whitney Shi
+65 6780 4359

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