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Refineries run at low levels
By Richard Fu |
September 24, 2011, Saturday
|
Print Edition
Print Edition
THE run rate at China's major refineries has fallen to its lowest level of the year as companies undertake heavy maintenance on their plants, the latest industry survey showed.
The rate fell to 77.59 percent in the two weeks ending Thursday, down 2.06 percentage points from the previous two weeks, according to a biweekly report yesterday by Chinese industry portal Oilchem.net. The previous low was 78.46 percent, recorded at the end of June.
The report was based on a survey of 35 refineries with a combined capacity of 363 million tons a year, or 72 percent of the nation's total capacity.
The decline in utilization was most significant in east and central China, it said.
Sinopec Shanghai Petrochemical Co, a unit of Asia's top refiner, Sinopec, on September 17 shut an 8 million ton-a-year facility for a month-long maintenance, Oilchem said.
Utilization at China's biggest refineries is expected to rebound to 81-83 percent in late October as repairs finish, the report said.
For the entire June-September period, Chinese refineries have shut facilities for heavy maintenance. Because of that and higher demand during harvest season, the country was a net importer of diesel last month.
The rate fell to 77.59 percent in the two weeks ending Thursday, down 2.06 percentage points from the previous two weeks, according to a biweekly report yesterday by Chinese industry portal Oilchem.net. The previous low was 78.46 percent, recorded at the end of June.
The report was based on a survey of 35 refineries with a combined capacity of 363 million tons a year, or 72 percent of the nation's total capacity.
The decline in utilization was most significant in east and central China, it said.
Sinopec Shanghai Petrochemical Co, a unit of Asia's top refiner, Sinopec, on September 17 shut an 8 million ton-a-year facility for a month-long maintenance, Oilchem said.
Utilization at China's biggest refineries is expected to rebound to 81-83 percent in late October as repairs finish, the report said.
For the entire June-September period, Chinese refineries have shut facilities for heavy maintenance. Because of that and higher demand during harvest season, the country was a net importer of diesel last month.
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