17 September 2013 08:08 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Daqing Refining & Chemical, a PetroChina subsidiary, plans to restart its 200,000 tonne/year Group II base oils plant at Daqing in Heilongjiang province on 20 September, a company source said on Tuesday.
Commercial supply to the domestic market will begin in the middle of October, as the company needs to build up stocks first, the source said.
The plant was shut on 10 August for a routine turnaround.
China’s Group II base oils supply is expected to increase significantly, as Hainan Handi Sunshine Petrochemical and Taiwan’s Formosa Petrochemical Corp also plan to restart their 300,000 tonne/year and 600,000 tonne/year Group II units respectively in late September, industry sources said.
However, Group II base oils prices are likely to be mainly stable in October as a result of rising production costs in line with firmer crude prices, the sources added.
Daqing Refining & Chemical mainly produces Group II 2cst and 5cst grades.
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