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October 10, 2009

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Chinese Refiners To Keep High Crude Runs

TOP Chinese refineries will maintain their crude oil processing this month at the record levels seen last month despite a fuel price cut, on hopes of a further demand recovery on the back of an economic expansion.

Twelve major plants accounting for more than a third of China's capacity, most of them on the eastern and southern seaboards, plan to process 2.66 million barrels per day of crude oil this month, flat from levels last month, a Reuters poll showed. The volume would represent about 89 percent of their total refining capacity.

PetroChina will raise crude throughput at its Jinxi plant by more than 60 percent.

Fujian Refining and Petrochemical Co, a joint venture between Sinopec, Exxon Mobil and Saudi Aramco, is set to raise crude runs after a sharp hike last month.

The gains will be offset by a moderate cut in crude processing in several plants, including PetroChina's Jinzhou, Dalian and WEPEC, a venture between Petrochina, Sinochem and France's Total.


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