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Chinese State Refiners Running at 75.6%: OilChem

REFINING

China’s state-run oil refiners lowered run rates by 1 ppt w/w to 75.64% as of May 18 according to OilChem.

  • Run rates for Shandong teapots +0.65 ppt to 62.76%, while independent refiners nationwide +0.21 ppt w/w to 65.1%.
  • Commercial diesel stockpiles -0.3% w/w to ~16.1m tons, while gasoline supplies -1.5% w/w to 13.6m tons.
  • China’s total refinery throughput reached the equivalent of 14.87mn bpd in April according to the latest NBS figures. April’s runs were slightly less than March’s record levels of 14.9mn bpd and compared to 12.6mn bpd in April of last year.
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