OIL
CDU capacity utilisation rates at China’s domestic refineries will edge down 0.24 percentage points on the week to average 57.37% in the seven days ending May 23, OilChem said.
- This will lead to the combined weekly gasoline and gasoil production in China falling 2.26% to 2.56m mt.
- The fall is attributed to the on-going maintenance of refineries. refined product output at Lianhe Petrochem, Zhenghe Petrochem, and Aoxing Petrochem will fall to zero,
- China’s independent refineries’ CDU capacity utilisation rates have been trending downward mainly due to maintenance and weak refining margins.
- CDU capacity utilisation rates at Teapots averaged 57.61% in the week to May 16, down 1.07 percentage points on the week.
- Gasoline and gasoil production at Teapots was down 2.87% and 2.67% respectively on the week to 0.91m mt and 1.71m mt.
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