Major Chinese refineries’ run rates edge down to 85.52%

29 January 2014 07:34 Source:ICIS News

SINGAPORE (ICIS)--The operating rates of major Chinese refineries averaged at 85.52% on Wednesday, slightly down by 0.12 percentage points from two weeks ago, according to data from C1 Energy, an ICIS service in China.

State-owned oil giants Sinopec and PetroChina both did not conduct turnarounds at their subsidiary refineries in January.

The average refinery operating rate was compiled from 35 major Chinese refineries that have a combined capacity of 7.62m bbl/day, accounting for 71% of the total capacity of major refineries, according to C1 Energy.

Lower refinery operating rates tend to push up feedstock costs for China's chemical plants, which in turn may choose to reduce their own production.

By Amy Sun