Feedstock imports for China’s independent refineries rose by 1.8% month on month to 3.71 million b/d, or 15.7 million mt in May, as the refiners stockpiled bitumen blend ahead of the introduction of a new consumption tax on the fuel, data collected by S&P Global Platts showed on June 4. Bitumen blend imports jumped 15.2% .
Crude stocks hit record high at China’s Shandong ports amid turnarounds
Crude oil inventories at major ports in China’s eastern Shandong province rose to a record high amid more refineries shutting for scheduled maintenance, refinery and port sources told S&P Global Platts on April 29.
Combined inventories stood at a record 6.17 million mt on April 29, up 1.3% from 6.09 million mt on April 22, also a record at the time.
Stocks as on April 29 are also 28.5% higher year on year.
The ports that are part of the count include Dongjiakou, Qingdao, Rizhao, Yantai, Dongying, Laizhou and Longkou, according to data from JLC, a local energy information provider.
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Combined inventories stood at a record 6.17 million mt on April 29, up 1.3% from 6.09 million mt on April 22, also a record at the time. Stocks as on April 29 are also 28.5% higher year on year. The ports that are part of the count include Dongjiakou, Qingdao, Rizhao, Yantai, Dongying, Laizhou and Longkou, according to data from JLC, a local energy information provider. The increase in stocks came mainly from Rizhao and Laizhou ports, where the surge reflected a recent turnaround at China Overseas Energy, as well as ChemChina s Zhenghe Petrochemical.