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Major Chinese refineries' operation rate rebounds moderately to 79.36% in mid-Jul

https://www.chemnet.com   Jul 15,2011
Major Chinese refineries' average operating rate rebounded to 79.36% on Jul 14, moderately up by 1.39 percentage points from two weeks ago, C1's research showed.

Dalian Petrochemical restarted a 10-mil-mt/yr crude distillate unit and some secondary units after maintenance and boosted its run rate by 43 percentage points in the two weeks.

The growth was in part offset by the cut in CNOOC Huizhou refinery's operation rate. The refinery slashed run rate by 34 percentage points in the period, because of a fire on Jul 11.

Meanwhile, the other refineries kept operation rates largely stable.
Despite the rise, the average run rate was still close to the lowest level this year, down 9.24 percentage points from this year’s highest level of 88.6% in the second half of May.

Jinxi Petrochemical and Lanzhou Petrochemical are scheduled to complete maintenance at the end of July, which will likely to push up the average run rate moderately. The operation rate will probably rise significantly after Qingdao refinery brings 10-mil mt/yr refining capacity back on stream in early August.

The above figures were obtained through computation on the basis of refineries' primary refining capacities. If calculated on the basis of their complex refining ratio, the average run rate would be 85.19%, up by 1.49 percentage points from two weeks ago.

C1's research involves 23 refineries with annual refining capacity amounting to 281-mil mt.
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