30 September 2013 07:03 [Source: ICIS news]
SINGAPORE (ICIS)--China’s largest oil refiner Sinopec plans to supply about 14,500 tonnes of Group I and II base oils to the domestic market in October, a decline of 17% month on month, a company source said on Monday.
The company plans to shut a 400,000 tonne/year Group I base oils plant at Maoming in Guangdong province in early October, and may not restart its Group I and II base oils units in Shanghai until mid-October, thus leading to decreased production, the source explained.
Most volumes will be produced by Sinopec Jingmen, Sinopec Ji’nan and Sinopec Henan Oilfield.
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 capacity of 150,000 tonnes/year.
Meanwhile, Sinopec is likely to continue increasing its prices for commercial supplies by around yuan (CNY) 100/tonne ($16.33/tonne) for October, the source added.
Sinopec sold about 17,500 tonnes of Group I and II base oils in September, up by 16.7% from a month ago.
($1 = CNY6.12)
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