China: PetroChina to Buy From External Sources – Report
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Monday, 19 December 2011 |
 Petrochina will buy additional fuel from external sources to prevent fuel shortages as its refineries run at full capacity. The state companies internal newspaper, published by Petrochina parent China National Petroleum Corporation, said that the company’s current output of refined oil products stands at 268,000 tonnes per day, 2% more than in 2010.
Despite increased
production, Petrochina has had to buy more fuel to meet still-growing
demand – according to China Petroleum Daily, purchases of fuel from
external sources in November were 63.2% higher than the same period last
year. The sources of the fuel include smaller private refineries and
fuel from rival Sinopec. China’s overall demand for oil products is on course to ruse to 20.8m tonnes for the month of December, up 3.2%.
PetrolWorld 19122011
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