Free Trial

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

OIL

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
133 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

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