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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 .
CHINA DATA: Throughput to ease from 7-month highs as refineries set to go offline
China’s crude throughput in March is expected to ease from seven-month highs seen in February, as refiners embark on a much delayed maintenance spree after postponing them last year in the wake of COVID-19, a move that could put downward pressure on oil products availability.
About 50 million mt/year of refining capacity at six state-owned refineries five from Sinopec and one from CNOOC is expected to be shut over the March-April period, while May could also witness some maintenance, albeit at a relatively lower capacity level, latest industry data and information collected by S&P Global Platts showed.
CHINA DATA: Dec crude oil throughput falls as refiners cut monthly run rate to 78%
China’s crude throughput fell slightly in December, with both state-run and independent refiners posting lower run rates due to some maintenance works toward the year-end, latest industry data and information collected by S&P Global Platts showed.
State-run PetroChina’s average run rate fell this month due to maintenance at its subsidiary refineries, while another state-owned Sinopec’s run rates at its refineries were relatively steady from November.
The average run rate of the four state-owned oil majors, Sinopec, PetroChina, CNOOC and Sinochem, stood at around 78% to date in December, compared with the 80% average in November, according to the data.