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 .
The average utilization rate of China’s four state-owned refiners fell from 84% in August to 82% in September, while independent refiners also cut run rates by two percentage points. As a result, the country’s crude throughput is likely to fall further from the 15-month low of 58.35 million mt in August, data from the National .
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China’s four oil giants lifted their average utilization rate to a 19-month high of 84% in August as plants returned from maintenance, in line with the expectation that the state-run refineries would compensate for the throughput cut by their independent peers. While independent refineries were expected to cut utilization rate in the second half of .