Free Trial

China's Yulong Purchases Crude as Refinery Start Nears

REFINING

Shandong’s 400k b/d Yulong refinery could be nearing a start with the refiner buying 740kbbl of ESPO crude for late July arrival, according to Bloomberg.

  • The purchases take the total spot cargoes by Yulong up to about 3mbbls, all originating from Russia.
  • The refinery is expected to start commissioning by end-July and will come online by end of Q3, according to OilChem earlier this week.
  • The refinery is projected to produce around 0.5m mt of refined products in Q4 2024 after accounting for restrictions such as depleting crude oil import quotas.

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.