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OIL: China’s CDU Capacity to Rise on Week: OilChem

OIL
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CDU capacity utilisation rates at China’s state-owned refineries are expected to rise in the week to Sep. 5 according to OilChem, amid resumed production from Ningxia Petrochem.

  • Among independent refineries in China’s Shandong province, CDU capacity utilisation rates are estimated to rise further as Teapots restart and ramp up production.
  • CDU capacity utilisation rates at domestic refineries in China averaged 69.82% last week, down 0.51 percentage points on the previous seven-day period. This was due to Jilin Petrochem commencing routine maintenance.
  • China’s gasoline demand is projected to continue weakening with the ending summer travel peak and absence of holidays in the near future.
  • Gasoil demand is likely to remain flat, despite the start-up of the traditional seasonal high.

 

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CDU capacity utilisation rates at China’s state-owned refineries are expected to rise in the week to Sep. 5 according to OilChem, amid resumed production from Ningxia Petrochem.

  • Among independent refineries in China’s Shandong province, CDU capacity utilisation rates are estimated to rise further as Teapots restart and ramp up production.
  • CDU capacity utilisation rates at domestic refineries in China averaged 69.82% last week, down 0.51 percentage points on the previous seven-day period. This was due to Jilin Petrochem commencing routine maintenance.
  • China’s gasoline demand is projected to continue weakening with the ending summer travel peak and absence of holidays in the near future.
  • Gasoil demand is likely to remain flat, despite the start-up of the traditional seasonal high.

 

Keep reading...Show less