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OIL: China’s CDU Capacity to Remain Flat on Week: OilChem

OIL
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CDU capacity utilisation rates at China’s state-owned refineries are expected to remain flat in the week to Nov. 21 according to OilChem, with no new overhauls or maintenance planned.

  • Among independent refineries in China’s Shandong province, CDU capacity utilisation rates are estimated to rise as Lanqiao Petrochem is yet to reach full capacity after returning from maintenance.
  • CDU capacity utilisation rates at domestic refineries in China averaged 69.31% last week, up 0.18 percentage points on the previous seven-day period.
  • The rates at independent refineries rose thanks to higher production at Yulong Petrochem, while state-owned rates were flat.
  • China’s gasoline demand is projected to remain stable partly due to the rising use of fuel vehicles in North China in winter.
  • Gasoil demand is likely to gradually reduce with outdoor projects slowing down when the temperatures drop rapidly.

 

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CDU capacity utilisation rates at China’s state-owned refineries are expected to remain flat in the week to Nov. 21 according to OilChem, with no new overhauls or maintenance planned.

  • Among independent refineries in China’s Shandong province, CDU capacity utilisation rates are estimated to rise as Lanqiao Petrochem is yet to reach full capacity after returning from maintenance.
  • CDU capacity utilisation rates at domestic refineries in China averaged 69.31% last week, up 0.18 percentage points on the previous seven-day period.
  • The rates at independent refineries rose thanks to higher production at Yulong Petrochem, while state-owned rates were flat.
  • China’s gasoline demand is projected to remain stable partly due to the rising use of fuel vehicles in North China in winter.
  • Gasoil demand is likely to gradually reduce with outdoor projects slowing down when the temperatures drop rapidly.

 

Keep reading...Show less