BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Asia Refinery Runs to Fall in Q2 on Weak Margins: FGE

REFINING
Energy BulletsHomepagemarkets-real-timeBulletCommodities

Refinery runs in Asia runs, excluding China, are expected to fall by 300kb/d in Q2 from Q1 to 15.7mb/d through July, according to FGE on May 17 via Bloomberg.

  • Refinery runs are estimated to fall by 50kb/d m/m in May and an additional 80kb/d in June despite the approaching end to spring turnarounds.
  • Utilization rates at margin-oriented refiners are expected to be trimmed in the short term while some processors may prolong plant maintenance or bring work forward.
  • Formosa Petrochemical is expected to extend curbs through July. “This is just the tip of the iceberg – we expect refineries in South Korea and potentially Singapore to reduce runs at the margin in May and June as well.”
  • Thailand’s 120kb/d Bangchak refinery in Bangkok is undergoing regular maintenance a month earlier than planned.
132 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Refinery runs in Asia runs, excluding China, are expected to fall by 300kb/d in Q2 from Q1 to 15.7mb/d through July, according to FGE on May 17 via Bloomberg.

  • Refinery runs are estimated to fall by 50kb/d m/m in May and an additional 80kb/d in June despite the approaching end to spring turnarounds.
  • Utilization rates at margin-oriented refiners are expected to be trimmed in the short term while some processors may prolong plant maintenance or bring work forward.
  • Formosa Petrochemical is expected to extend curbs through July. “This is just the tip of the iceberg – we expect refineries in South Korea and potentially Singapore to reduce runs at the margin in May and June as well.”
  • Thailand’s 120kb/d Bangchak refinery in Bangkok is undergoing regular maintenance a month earlier than planned.