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China’s oil companies are likely to continue exporting gasoline and gasoil in April to ease bulging inventories at home, as the resurgence of the COVID-19 pandemic takes a toll on domestic demand, market sources told S&P Global Commodity Insights on March 28. Market sources said refiners may not have much option other than shipping cargoes . ....
China’s crude throughput in March is set to be lower than in February as state refiners cut operating rates for scheduled maintenance, while independent refineries further lower throughput due to weak refining margins and sluggish demand amid a domestic COVID-19 resurgence, latest data from S&P Global Commodity Insights showed March 25. The country’s crude throughput . ....
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 . ....