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 .
China’s independent refining sector is expected to consolidate further in 2022 as Beijing’s pledge to maintain supervision to ensure operational and tax discipline would see integrated refining capacities increasingly replacing smaller players that are scattered across northern part of the country. The expected decision by China to deny five of its independent refineries crude import .
China’s Ministry of Commerce has issued 107.4 million mt in crude import quotas to 36 qualified independent and non-major state-owned refineries in the first batch for 2022, falling 9.4% from the same batch in 2021, refining sources told S&P Global Platts Dec. 30. This is the first year-on-year reduction in the first batch crude quota .
China's Shandong enlists state-run coal miner to help fund mega refinery complex hydrocarbonprocessing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hydrocarbonprocessing.com Daily Mail and Mail on Sunday newspapers.
Meanwhile, Asia’s front-month crack for 0.5% very low-sulphur fuel oil (VLSFO) slipped on Wednesday, but traders claim steady bunkering demand and restricted arbitrage arrivals from the West will continue to help the market in the near future. The front-month VLSFO crack downed to $13.05 per barrel against Dubai crude during Asian trading hours, compared to .