20 November 2013 07:37 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Sinopec is expected to refine 246m tonnes of crude in 2014, an increase of 5.1% year on year, a company source said on Wednesday.
The oil major will limit the number of large-scale turnarounds at its subsidiary refineries next year and plans to increase utilisation of the refineries recording good profits while cutting those with poor profits, the source said.
Specifically, it will boost the crude throughput of its 170,000 bbl/day Wuhan refinery and 160,000 bbl/day Anqing refinery, which was expanded in the third quarter of this year.
Meanwhile, Sinopec expects crude consumption from its subsidiaries Sinopec Yangzi Petrochemical, Sinopec Jiujiang and Sinopec Shijiazhuang to increase in 2014 with the completion of their capacity expansion projects, added the source.
The refining capacity of Sinopec Yangzi will be increased to 250,000 bbl/day from the existing 160,000 bbl/day, and that of Sinopec Jiujiang will rise to 200,000 bbl/day from 130,000 bbl/day. Sinopec Shijiazhuang’s refinery capacity will be doubled to 100,000 bbl/day.
However, the proposed throughput is subject to revision depending on market conditions, according to the source.
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