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Chinese State Refiners to Raise Runs in Jan: OilChem

REFINING

Run rates at Chinese state refiners will rise by 0.6% to 76.02% in January according to OilChem citing a survey.

  • The increase follows declines in the previous three months and raises the monthly processing volume to 41.59m tons, up +0.6% m/m and +4.32% y/y.
  • The issuance of the second batch of crude import quotas with most refiners getting their whole year’s volume is expected to stimulate the production of independent refineries.

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