Related News
CNOOC's first refinery in south to run at 70%
Source: Agencies |
May 5, 2009, Tuesday
|
Print Edition
Print Edition
CNOOC'S first major refinery in southern China will run at 70 percent capacity in May, in line with earlier forecasts, and the refiner is working to obtain permits to export fuel before any big boost in operations, an industry official said yesterday.
The 70 percent ratio at the 240,000 barrel-per-day Huizhou refinery, which started in mid-March, compared with an average of more than 85 percent at major plants under refining giants Sinopec Corp and PetroChina, signalling still slow Chinese fuel demand.
"Any big jump in operations will really depend on domestic consumption and also outlets in the international markets," an official close to Huizhou's operations told Reuters.
The conservative operation rate, partly due to technical reasons to ensure safe runs at a newly-started refinery, may extend through June, according to the official.
CNOOC, new to China's refining business long controlled by Sinopec and PetroChina, has yet to obtain special export quotas for diesel and gasoline that are free from a 17-percent value added tax.
The 70 percent ratio at the 240,000 barrel-per-day Huizhou refinery, which started in mid-March, compared with an average of more than 85 percent at major plants under refining giants Sinopec Corp and PetroChina, signalling still slow Chinese fuel demand.
"Any big jump in operations will really depend on domestic consumption and also outlets in the international markets," an official close to Huizhou's operations told Reuters.
The conservative operation rate, partly due to technical reasons to ensure safe runs at a newly-started refinery, may extend through June, according to the official.
CNOOC, new to China's refining business long controlled by Sinopec and PetroChina, has yet to obtain special export quotas for diesel and gasoline that are free from a 17-percent value added tax.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
