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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.
REFINING
July crude throughputs keep rising amid good demand and end of maintenance according to S&P Global.
- The average utilization rate at state-owned refiners Sinopec, PetroChina, CNOOC and Sinochem rose for the second month to reach a 23-month high of 83.7% in July compared to 79.2% in May.
- The combined crude throughput for China's refineries in July maintained the trend higher with improving domestic demand for transportation fuel, a rise in oil products exports and fewer maintenance works.
- PetroChina's 210k b/d Lanzhou Petrochemical was shut for scheduled maintenance but about 640k b/d of other capacity resumed operation gradually in the second half of July.
- Refineries also have lifted throughputs as gasoline and jet fuel demand recovers during the summer holidays
- Oil products exports are estimated to jump 64% month on month to about 3.8m mt in July.
Source: S&P Global
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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