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OIL
The arrival of feedstocks into independent refineries in Shandong province was 10.39m mt in March, up 3.87% on the month, according to OilChem.
- Feedstock arrivals constitute crude oil, fuel oil, and bitumen mixtures.
- Arrivals of crude oil totalled 8.40m mt, up 6.92% on the month. Fuel oil arrivals rose 0.02m mt to 1.49m mt, while bitumen mixtures were down 25.7% to 0.5m mt.
- Crude oil arrivals from Russia rose 47% on the month to 3.8m mt, around 37% of all feedstocks. This was attributed to teapots buying Sokol crude rejected by Indian refiners.
- Sokol imports into Shandong Teapots totalled 1.26m mt, a four-fold rise.
- Feedstock arrivals in April are expected to fall amid rising maintenance and poor refining profits.
Source: OilChem
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.
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