08 November 2013 07:51 [Source: ICIS news]
SINGAPORE (ICIS)--Fushun Petrochemical, a PetroChina subsidiary, has resumed Group I base oils supply from its 260,000 tonne/year unit at Fushun in Liaoning province since earlier this week, a company source said on Friday.
The plant was shut in early September and was restarted in late October, the source added.
However, the company is running the plant at just 60-70% capacity in view of falling production margins, the source said.
Subsidiary refiners of PetroChina reduced their Group I offers by yuan (CNY) 50.00-100.00/tonne ($8.20-16.40/tonne) in November as demand for high-viscosity products is weakening in China during the winter season, the source explained.
Fushun Petrochemical mainly produces Group I SN150 and SN400 base oils.
PetroChina has another Group I base oils unit at Dalian in Liaoning, which has a nameplate capacity of 450,000 tonnes/year.
($1 = CNY6.10)
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