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SZ China Report: Full and deep view of China oil, gas & petrochemical market.
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sz China Refining Monthly Report-Oct’2012
[Monday, Dec. 24, 2012] PRINT EMAIL FAV PDF


Editorial:
Review of China Refining Market in Oct 2012
 
News Spot:
 
China’s petrochemical giant Sinopec has ordered three subsidiaries in Guangdong province to shut operations and correct problems that violate pollution regulations.
 
The petrochemical industry in China saw its total output value grow 11.1% YoY to Yuan  6.96 trillion in the first 8 months of 2012.
 
In the first major move by a Chinese state company into European oil storage, Sinopec has bought a half stake in tank company Vesta Terminals through a joint venture with Mercuria, the Swiss-based trading house said on Oct 16.
 
China’s effort to shut down dozens of small, privately owned oil refineries is instead making them grow bigger, threatening Beijing’s plans to regulate an industry that the International Energy Agency says is already overheating.
 
Crude Refining:
 
China’s state-owned refiners planned to raise crude runs in Oct to 84% of nameplate capacity, up from 83% in Sept. Sinopec to operate at 84% of capacity, up from 80% in Sept. PetroChina, CNOOC lower run rates in Oct.
 
Crude:
 
China’s crude apparent consumption totalled 315.36-mil mt in Jan-Aug 2012, a rise of 4.3% year on year, data from the National Bureau of Statistics (NBS) showed. China’s commercial crude inventories at the end of Sept rose by 0.6% from a month before, data from China National Petroleum Corporation showed.China’s Commercial Crude Stocks Drop 2.5% In Aug
 
 
Oil Product:
Chinese private oil product traders held a total of about 145,000mt of diesel and gasoline inventories on 15 Oct, down by about 14% or 23,000mt from the end of Sept. China Private Oil Product Stocks Drop 9% In Second Half Of Sept.China’s oil product stocks at the end of Sept increased by 1% from a month earlier, according to data released by China National Petroleum Corporation. China’s oil product inventories fell by 10.9% month on month in Aug, marking declines in six consecutive months, according to data released by China National Petroleum Corporation.
 
 
Index:
 
  
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