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Shandong’s Feedstock Fuel Oil Arrivals Set to Remain Elevated in April

OIL PRODUCTS
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Feedstock fuel oil arrivals at Ports in Shandong Province will have amounted to 1.8m mt in April, flat on the month from March, according to OilChem.

  • Arrivals of fuel oil from Russia are seen at 1.03m mt, a new historical high since June 2023 and rising 33% on the month.
  • As an alternative feedstock to crude oil, independent refineries showed firm demand for feedstock fuel oil in the face of better refinery efficiency.
  • Fuel oil can be run not only in the CDUs, but also in other secondary refinery units.
  • This is despite relatively low CDU capacity utilisation rates and ongoing poor refining profits in Shandong.

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Feedstock fuel oil arrivals at Ports in Shandong Province will have amounted to 1.8m mt in April, flat on the month from March, according to OilChem.

  • Arrivals of fuel oil from Russia are seen at 1.03m mt, a new historical high since June 2023 and rising 33% on the month.
  • As an alternative feedstock to crude oil, independent refineries showed firm demand for feedstock fuel oil in the face of better refinery efficiency.
  • Fuel oil can be run not only in the CDUs, but also in other secondary refinery units.
  • This is despite relatively low CDU capacity utilisation rates and ongoing poor refining profits in Shandong.

Keep reading...Show less