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REFINING: Sinochem Shuts Two Refineries for Indefinite Period Amid Weak Margins

REFINING

Sinochem has shut in two of its three east China oil refineries for an indefinite maintenance period, according to Reuters sources.

  • The Zhenghe refinery was shut in May and Changyi facility in June for indefinite overhaul periods because of poor margins due to high crude oil costs and weak fuel demand.
  • The two Shandong refineries have a combined processing capacity of 260kbpd.

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