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OIL
China’s state-owned refineries’ planned throughput for Feb is set to fall of 5.21% on the month to 39.42m mt, according to OilChem.
- The fall is primarily attributed to the fewer calendar days in Feb.
- CDU utilisation rates are expected to rise by 1.01 percentage points on the month to average 77.02%. This is the second consecutive monthly increase amid no planned maintenance at state-owned refineries for Feb.
- 17 refineries plan to lower run rates, while 30 will raise rates.
- OilChem added that planned refined product production from state-owned refineries is 23.43m mt in Feb.
- According to OilChem figures, gasoline production is down 4.2% on the month to 9.66m mt, while gasoil production is down 10.4% to 9.34m mt. Jet fuel is down 5.59% to 4.22m mt.
- CDU utilisation rates are likely to decline in March and April amid the start of planned maintenance at several refineries, OilChem said.
Source: OilChem
Source: OilChem
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.
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