The average utilization rate at China’s four state-owned refiners rebounded in January to 80.7%, with nearly 1.53 million b/d capacity coming online following scheduled maintenance, while independent refiners largely retained high run rates, S&P Global Platts data showed Jan. 27. This was about three percentage points higher from the eight-month low of 78.2% in December, .
China’s crude throughput rose 4.6% year on year to 14.13 million b/d in 2021 despite refineries cutting crude runs by 2.1% in December to offset product inventory pressure, National Bureau of Statistics data released Jan. 17 showed. The higher throughput in 2021 was attributed to refining capacity expansion, and as refineries produced more oil products .
The average utilization rate at China’s four state-owned refiners rebounded by two percentage points to 82.6% in November, from a five-month low of 80.6% in October, while independent refiners also raised run rates with refining margins remaining good. The four state oil companies Sinopec, PetroChina, CNOOC and Sinochem planned to process a total .
In line with market expectations, the average utilization rate at China’s four state-owned refiners rebounded by two percentage points to 82.6% in November, from a five-month low of 80.6% in October, while independent refiners also raised run rates with refining margins remaining good, S&P Global Platts data showed on Nov. 29. This will likely continue .
The average utilization rate at China’s four state-owned refiners fell to a five-month low of 80.6% in October from 81.5% in September while independent refiners also maintained run rates at low levels due to feedstock shortage, S&P Global Platts data showed Oct. 28. These would likely lead the country’s crude throughputs to extend the downward .