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China’s CDU Capacity to Remain Stable on Week: OilChem

OIL PRODUCTS

CDU capacity utilisation rates at China’s state-owned refineries are expected to remain stable in the week to Aug. 22 according to OilChem, amid no planned overhauls or production resumptions.

  • Among independent refineries in China’s Shandong province, CDU capacity utilisation rates are estimated to rebound as Dongfang Hualong resumes production and Wanda Tianhong is yet to reach full capacity.
  • CDU capacity utilisation rates at domestic refineries in China averaged 69.05% last week, up 0.16 percentage points on the previous seven-day period.
  • State-owned refineries saw rates unchanged last week, while Teapots boosted rates amid resuming production.
  • China’s gasoline demand is projected to fall marginally on the back of the summer driving season ending.
  • Gasoil demand is likely to gather momentum with the finishing season starting. However, heavy rains in some areas may restrict demand.

Source: OilChem

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