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May Throughput at Chinese Independent Refineries Rises

REFINING

Refinery throughput at Shandong’s independent refineries in China rose to a four-month high of 8.18 million mt or 1.93 million bpd in May based on figures from local information provider JLC. Production rose as refineries came back from maintenance. The level is expected to remain stable in June.

  • The volume in May jumped 16.9% from the 26-month low of 7 million mt in April but the volume was still 18.6% below the 10.05 million mt in the same month of last year.
  • The rise was due to a combined 22.1 million mt/year, or 442,000 b/d, of refining capacity from six independent refineries resuming operation from maintenance in May.
  • Chinese refiners are being hit by weak margins due to prolonged lockdowns in the country, putting pressure on runs rising much higher.
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