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Free AccessStable Output Expected from China's Yulong in 2025
The Yulong refinery in China will face bottlenecks as it aims for production according to FGE.
- It does not expect trials from the refinery until Q4 2024 and stable output until mid-2025.
- Best case scenario of trials starting July/Aug 2024 would only mean on-spec production in early 2025.
- The refinery still need approvals for downstream PX units while the crude pipelines from Yantai port (VLCC berth) to Longkou port (closets to Yulong) is still under construction.
- With two FCCs and three HDCs, Yulong is expected to maximise the production of petrochemical feedstock.
- The refinery has received 8.3mmt (over 60mmb) of crude import quotas this year – far more than it requires.
- FGE reports Yulong has already bought some spot cargoes (2x ESPO, 1x Sokol, and 1x Oman), and are seeking more for May arrival.
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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.