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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.
REFINING
Crude throughput to China's Shandong independent refineries is declining in March due to scheduled maintenance according to S&P Global. Throughput in February rose 1.4% to 2.15mb/d and was up 2.4% year on year according to JLC data.
- The maintenance season has so far seen outages at three refineries with a combined capacity of 7.5m mt/year. Another five refineries with a total capacity of 19.2m mt/year are set to begin turnarounds in April and remain shut until May.
- The total capacity scheduled for maintenance in Shandong independent refineries is expected to be lower in 2023 than last year due to strong refining margins.
- Fuel demand is likely to increase in March with increased mobility and road travel as China recovers from covid restrictions. Gasoil production yields against gasoline fell in Feb to a 17-month month low of 1.66 to 1 from 1.75 to 1 in January.
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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