With demand for gasoline and gasoil remaining robust, China's oil companies are expected to limit exports of both products in March, S&P Global reported previously.Ĭombined refinery feedstocks at ports rose 5% month on month to 8.48 million mt, or 62 million barrels Feb. Production yields of gasoil against gasoline fell further to a 17-month month low of 1.66 to 1 in February from 1.75 to 1 in January as more gasoline was produced to cater to increasing demand. "Demand for gasoil from construction projects and agriculture will also increase further in March with operations resuming," an analyst with JLC said. Refining margins for independent refineries processing imported crude averaged Yuan 771 ($110)/mt in February, compared with Yuan 55/mt a month earlier, JLC data showed.ĭemand for automotive fuels is likely to increase further from March amid increased mobility and road travel in early spring as people travel freely following the easing of pandemic-led restrictions, sources said. However, the total capacity scheduled for maintenance in the independent sector in Shandong is expected to be lower in 2023 than a year earlier due to strong refining margins.
March-June is typically the main maintenance season for Chinese refineries. The combined capacity of the three refineries is 7.5 million mt/year.Īnother five refineries with a total capacity of 19.2 million mt/year are set to begin turnarounds in April and remain shut until May, sources said. 20 and had been followed by two other refineries as of March 20, data collected by S&P Global Commodity Insights showed.
Maintenance season for the sector began with Xintai Petrochemical shutting Feb. The combined feedstock throughput at 43 surveyed refineries rose 1.4% month on month to 2.15 million b/d in February and was up 2.4% year on year, according to data from JLC, a local energy information provider. Receive daily email alerts, subscriber notes & personalize your experience.
0 kommentar(er)
