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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-Apr’2011
[Monday, Apr. 25, 2011] PRINT EMAIL FAV PDF


China Refining Monthly Report-Apr’2011. 1

Please see ’’www.SZEnergy.biz’’ for more detailed information about China oil, gas & petrochemical industry. 4

1 China Refining Topic News. 4

1.1 China’s Top Refineries To Raise Apr’ 11 Runs Moderately. 4

1.2 China Oil Product Supply Tension Likely To Ease In Q2 On Fewer Exports, More Output. 5

1.3 China Mar’11 Oil Demand Up 11% On Year, But Off Peak. 6

1.4 China’s Feb’11 Oil Demand Up 10.1% Yearly To 36.65-Mil Mt, The Second Strongest Level 6

1.5 Sinopec Halts Fuel Exports To Meet Domestic Shortages Amid Refining Looses. 7

1.6 China Sees 3.4% Less Crude Throughput Daily In Mar’11. 8

1.7 China’s Crude Imports From Middle East, S. America Post Double-Digit Growth In Jan-Feb’11. 8

1.8 China’s Gasoline Apparent Consumption Climbs 9.2% Yoy To 12.22-Mil Mt In Jan-Feb’11. 8

1.9 China’s Mar’11 Fuel Oil Output Falls 1.35% On Month To1.76-Mil Mt. 9

1.10 China’s Fuel Oil Apparent Consumption Rockets 41.8% Yoy In Jan-Feb’11. 9

1.11 Supply Of China Bitumen May Rebound In Apr’11. 9

1.12 China Oil Product Market May Remain Bullish After Price Hikes. 9

1.13 Sinopec Beefs Up Fuel Supply, Cuts Chemical Output. 10

1.14 China March Refined Oil Product Stocks Down From Feb Record. 10

1.15 China’s Commercial Crude Inventories Edge Down 2% In Feb 2011. 11

1.16 Commercial Fuel Oil Stock In E. China Slumps 31.43% To 240,000mt On Apr 13. 11

1.17 S. China Commercial Fuel Oil Inventory Stays Stable At 1.85-Mil Mt On Apr 6. 11

1.18 Oil Product Wholesale Prices Again Exceed Retail Ceilings In Some Areas Of C. & N. China. 12

1.19 China Diesel Wholesale Prices Exceed Retail Ceilings In N. China Amid Price Hike Expectations. 12

1.20 S. China Oil Product Wholesale Prices Retreat Amid Weaker Demand. 12

1.21 Sinopec Raises Oil Product Ex-Refinery Prices In Line With Rises In Retail Ceilings. 13

1.22 Sinopec Guangdong Keeps Apr Oil Product Sales Target Basically Stable At 1.26-Mil Mt. 13

1.23 Sinochem May Dip Toe Into Oil Product Market In N. China’s Shanxi 13

1.24 NE. China Still Ranks As Top Gasoline Producer In Mar 14

1.25 Sinopec Continues To Encourage Diesel Outsourcing In Apr’11 Amid Sustained Supply Tension. 14

1.26 Sinopec To Supply 716,000mt Of Distillates To SW. China Via Pipeline In Apr’11, Down 3.2%.. 14

1.27 LPG Supply From Major Chinese Refineries Slips 0.3% In H1 Apr’11. 14

1.28 China LPG Distributors In Eastern Coasts Face Risk Of Losses Amid Surging Ex-Refinery Prices. 15

1.29 Rising Naphtha Output Squeezing Other Refined Product Yields in China. 15

1.30 Sinopec To Raise Naphtha Ex-Refinery Price By Yuan 700/Mt In Apr 15

1.31 Total To Build 200,000mt/Yr Lube Plant In Tianjin. 16

1.32 BASF Kicks Off Construction On MDI Complex In Chongqing. 16

1.33 Brightoil Starts Construction Of 4-5-Mil-Cu-M Oil Tank Farm In Dalian. 16

1.34 Tianjin Huifeng Energy Development To Debut Bunker Business In Qingdao In 2011. 16

1.35 Jiangsu Huayuan To Bring 96,000-Cu-M Oil Tank Farm On Stream In Oct’11. 17

1.36 Sinopec Completes Construction Of Commercial Crude Reserve In Maoming, Guangdong. 17

1.37 Lianyungang Port Likely To Start Construction Of 300,000-DWT Crude Jetty At End Of 2011. 17

1.38 Wuhu Erhuan Petroleum To Complete Construction Of 100,000-Cu-M Distillate Terminal End 2011. 18

1.39 N. China’s Tianjin Port Ships Out 213,000mt Of Oil Products In Mar’11, Down 13.8%.. 18

1.40 China Domestic Fuel Oil Freight Rates Stay High On Tight Shipping Capacity, Rises In Fuel Costs. 18

1.41 China Mar’11 Ethylene Output Grows In Step With Demand From PE Sector 19

1.42 China Oil Supply-Demand Overview in Mar’2011. 19

Jan-Mar’2011 China crude runs & oil products production:. 20

Mar’2011 China crude runs & oil products production:. 20

China’s Crude Throughput & oil Products Yield Rate in Jan-Mar’2011 (Unit: mil mt):. 20

1.43 Gasoline/Gas Oil Vs LPG prices in S. China & E. China over the past three months (China cuts Tariff on propane and butane by 3 percentage points to 2%, effective on Jan 1, 2011.) 22

Curve 1: Gasoline/Gas Oil Vs LPG prices in S. China over the past 3 months: US$/6.53/113% or /117%.. 22

Curve 2: Gasoline/Gas Oil Vs LPG prices in E. China over the past 3 months: US$/6.53/113% or /117%.. 22

2     Major Refineries. 23

2. 1   Sinopec  23

2.1.1 Sinopec To Keep Refining Runs At Max In Apr’11 -With Crude Throughput Up 2.2% Daily. 23

2.1.2 Sinopec To Raise 2011 Crude Runs By 8%.. 23

2.1.3 Sinopec To See Crude Yield Down 1% In 2011. 23

2.1.4 Sinopec Encourages Gasoline, Diesel Production To Guarantee Supply. 24

2.1.5 Sinopec To Unify Paraffin Sales Business Of Underlying Refineries As From Apr 1, 2011. 24

2.1.6 S. China - Sinopec Maoming’s Crude Consumption Stable At 40,000mt/D In Apr’11. 24

2.1.7 S. China - Sinopec Guangzhou To Refine 3% More Crude Daily In Apr’11. 25

2.1.8 E. China – Sinopec Fujian To Cut Daily Crude Throughput By 33% In Apr’11 On Turnaround. 25

2.1.9 Central China - Sinopec Jiujiang Apr’11 Daily Crude Throughput Stable At 11,000mt. 25

2.1.10 Central China - Sinopec Changling To Keep Daily Crude Throughput Stable At 15,000mt In Apr’11  25

2.1.11 Central China - Sinopec Wuhan To Refine 21% More Crude Daily In Apr’11. 25

2.1.12 N. China - Sinopec Ji’nan Resumes Residential-Consuming Gas Supply. 26

2.1.13 N. China - Sinopec Shijiazhuang To Cut Daily Crude Throughput By 23% In Apr’11. 26

2.1.14 N. China - Sinopec Qingdao Refining & Chemical To Refine 8% More Crude Daily In Apr’11. 26

2.1.15 N. China - Sinopec Qilu Apr Daily Crude Throughput By 1% In Apr’11. 26

2.1.16 N. China - Sinopec Qilu To Start Processing Condensate Oil From Iran On Mar 26, 2011. 27

2.1.17 N. China - Sinopec Tianjin To Refine 40,000mt Of Condensate In Mar’11. 27

2.1.18 Sinopec Lifts Subsidiary Production Capacity. 27

2.1.19 S. China - Kuwait Petroleum, Sinopec In $9b Refinery Joint Venture In China. 27

2.1.20 Sinopec Unit Begins Construction Of 500,000 Tpa Aromatics Plant At Kazakhstan. 28

2.1.21 New Partner May Join Sinopec Refinery Project In Kuwait. 28

2. 2   CNPC (PetroChina). 28

2.2.1 PetroChina Up Daily Crude Throughput By 5.09% In Apr’2011. 28

2.2.2 SW. China - PetroChina To Build Refinery In Chongqing over the next 5 yr 28

2.2.3 SW. China - PetroChina Starts Laying Crude Pipeline For Sichuan Refinery. 29

2.2.4 SW. China - Saudi Aramco To Participate In PetroChina’s 10-Mil Mt/Yr Refining Project In Yunnan  29

2.2.5 S. China - PetroChina Guangxi Up Daily Crude Throughput By 3% In Apr’11. 29

2.2.6 S. China - PetroChina Guangxi Cuts LPG Supply By 63% On FCC Glitch On Mar 29, 2011. 29

2.2.7 S.China - PetroChina Guangxi To Stop LS Residue Supply From Apr’11. 30

2.2.8 N. China - PetroChina Huabei Down Apr’11 Crude Through Target By 61% On Overhaul 30

2.2.9 NW. China - PetroChina Golmud To Cease LPG Supply For One Week On FCC Maintenance. 30

2.2.10 NE. China - Dalian Wepec Restarts Operation After Overhaul On Apr 20, 2011. 30

2.2.11 NE. China - PetroChina Dalian May Repair CDU Around May’11. 31

2.2.12 NE. China - PetroChina Daqing Petrochemical Daily Crude Consumption Stable At 18,000mt In Apr’11  31

2.2.13 NE. China - PetroChina Fushun Up Daily Crude Throughput By 7% In Apr’11. 31

2.2.14 NE. China - PetroChina Fushun Reduces Topping Capacity To 8-Mil Mt/Yr 31

2.2.15 PetroChina’s Apr’11 Inner Settlement Price Of Daqing Crude Rises For Eighth Consecutive Month  32

2.2.16 Petrochina Plans European Refinery JVs. 32

2.3 CNOOC  32

2.3.1 S. China - CNOOC Huizhou To Debut Group II Base Oil Production In Late Apr-Early May’11. 32

2.3.2 S. China - CNOOC To Build 1-Mil Mt/Yr Huizhou Steam Cracker 2013-2014. 33

2.3.3 S. China - CNOOC Ningbo Daxie To Build 1.8-mil mt/Yr Fuel Oil-To-Olefin Project In 2012. 33

2.4 Independent Refineries. 33

2.4.1 The movement of Shandong Independent refineries Mar 20, 2011- Apr 20, 2011. 33

2.4.2 The movement of Guangdong Independent refineries Mar 20, 2011- Apr 20, 2011. 35

2.4.3 Shandong Lijin Petrochemical Shuts 1-mil mt/Yr FCC For 20-Day Maintenance. 36

2.4.4 Shandong Don Fang Hualong Starts Construction Of 3-mil mt-Yr CDU, 1-mil mt-Yr Coker 36

2.5    Other Refineries. 36

2.5.1 NW. China - Yanchang Petroleum Yulin Refinery Enters Into 20-Day Overhaul 36

2.5.2 S. China - Zhuhai Baota Petrochemical Starts Formal Supply Of Diesel, Gasoline. 37

2.5.3 E. China - Nanjing Derong Carbon Cuts CPC Output By 40% On Maintenance. 37

2.6 Main China refineries’ Crude Runs and Run Rates in Apr’2011               Unit:10kt. 38

2.7 Refinery Turnarounds. 39

3     Policy, Regulation & Law.. 40

3.1 China Raises Fuel Prices After Crude Climbs To 30-Month High. 40

3.2 China’s LPG Ex-Refinery Ceilings Climb 6% On Hikes In Gasoline Prices. 41

3.3 China To Encourage Foreign Investment In Oil And Gas. 41

3.4 China Reshuffles State Oil Firms’ Management. 41

3.5 NDRC Shall Charge Rates Lower Fuel Surcharge. 41

3.6 China Petrochemical Industry Expects RMB15 Trillion Of Industrial Added Value By End 2015. 42

3.7 GPG Long-Term Demand May Restricted By NDRC’s Brake On Electrolytic Aluminum Projects. 42

3.8 Three More Companies Granted Oil Product Wholesale Licenses. 43

3.9 CNAF Hikes Q2 Benchmark Price Of Jet Supplied To Domestic Airlines By 5.5% Qoq. 43

3.10 China Announces 2nd Increase In Benchmark Interest Rates in 2011 To Tackle Inflation. 44

4     China Oil Products Import & Export. 44

4.1 China’s Daily Crude Imports For Mar’11 Down Tad To 700,000mt. 44

4.2 China’s Dependence On Imported Crude Sets Record High In Jan-Feb’11. 45

4.3 China’s Crude Imports From Middle East, S. America Post Double-Digit Growth In Jan-Feb’11. 45

4.4 S. Korea ranks as China’s top jet supplier in Feb’11. 45

4.5 Sinopec To Stop Subsidizing Oil Product Exporters From Apr 1, 2011. 45

4.6 Chinese Importers Less Interested In Europe’s Apr ’11 Base Oils On Closed Import Arbitrage Windows  46

4.7 China To Cut Mar’11 Fuel Oil Imports By 9%.. 46

4.8 S. China’s Apr’11 Fuel Oil Imports To Decline 19% On Month To 200,000-220,000mt. 46

4.9 Bohai Bay To Cut Apr’11 Fuel Oil Imports By 11%.. 47

4.10 Fuel Oil Imports Via Tianjin Customs Rocket 298% Yoy In Jan-Feb’11. 47

4.11 Dalian Customs Still Ranks As China’s Top Gasoline Exporter In Feb’11. 47

4.12 China’s Feb’11 Gasoline Exports Drop 27.46% On Month To 403,442mt. 47

4.13 Sinopec And PetroChina To Double GPC Exports To 170,000mt Apr’11. 48

4.14 China’s LPG Imports Reach 153,457mt In Feb’11, Up 7% On Month. 48

4.15 China’s Feb’11 Naphtha Imports Decline 26% On Month To 202,200mt. 48

4.16 China To Expect Fewer Base Oils From Russia In Apr-May’11. 49

4.17 OIL DATA: Oil Products Imports & Exports in China in Feb’2011. 49

5     Jan-Mar’2011 China Data. 50

5.1    Mar’2011 Crude Oil Production in China      Unit: KMt. 50

5.2    Mar’2011 China Refineries on Crude Throughput      Unit: KMt. 51

5.3    Mar’2011 China Refineries on Gasoline/Diesel production   Unit: KMt. 52

5.4    Mar’2011 China Refineries on Kerosene & Fuel Oil production   Unit: KMt. 53

5.5    Mar’2011 China Refineries on LPG & Asphalt production      Unit: KMt. 54

5.6    Mar’2011 China Refineries on Lubricating Grease & Solvent Naphtha production      Unit: KMt. 55

5.7    Mar’2011 China Refineries on Naphtha & Petroleum Coke production      Unit: KMt. 56

5.8    Mar’2011 China Refineries on Ethylene & Pure benzene production      Unit: KMt. 57


Please see ’’www.SZEnergy.biz’’ for more detailed information about China oil, gas & petrochemical industry.


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