25 July 2013 08:54 [Source: ICIS news]
SINGAPORE (ICIS)--The operating rates of major Chinese refineries averaged 86.0% on 25 July, up by 0.73 percentage points from two weeks ago, according to data from C1 Energy, an ICIS service in China.
Dalian West Pacific Petrochemical has been running its 200,000 bbl/day refinery in northeast China at 74% capacity after completing a one-month turnaround on 17 July.
However, the rise in production was partly offset by Sinopec Yanshan, whose refinery run rate was lowered by 34 percentage points to 34%, because of plant turnarounds. Maintenance work at its 160,000 bbl/day crude distillation unit and some secondary processing units began on 15 July and will last till late September.
Other major refiners post stable plant operating rates in the same two-week period.
The average 86% refinery operating rate was compiled from 35 major Chinese refineries that have a combined capacity of 7.43m bbl/day. The combined capacity accounts for 70% of the total capacity of major refineries, according to C1 Energy.
Higher refinery operating rates tend to reduce feedstock costs for China's chemical plants, which in turn may choose to increase their own production.
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