China: Sinopec Plans Record Refinery Runs to Avert Shortages
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Friday, 28 October 2011 |
Sinopec Corporation has said that its domestic diesel stocks have fallen to just 10 days worth of supply, and that refining would be raised to record rates in November in an effort to replenish supplies. Demand for diesel traditionally peaks during September and October in China, and has been given added life by a recent fuel price cut imposed by local authorities.
Company spokesman Huang Wensheng told news agency Reuters that 18.3 million tonnes of crude – roughly 4.4 million bpd – will be processed next month. "Our plants will be operating at over 100 percent utilisation ratio," he said. Huang said that Sinopec’s depleted stocks came as private refiners, discouraged from producing by the price cut, reduced their activity. He declined to comment on whether the company would raise diesel imports.
PetrolWorld 28102011
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