China: Operation rate of Guangdong minor refineries rise 3 percentage points to 17%

Chemical News: China: Operation rate of Guangdong minor refineries rise 3 percentage points to 17%

https://www.chemnet.com Jul 30,2010
Minor refineries in South China's Guangdong Province ran at 17% on average Thursday, up 3 percentage points from one week ago, 4 percentage points higher than a year earlier, a survey found.

Five refineries were in operation at present, with feedstock throughput totaling 5,750mt per day, up 1,000mt on week.

The refineries were encouraged by rosy outlook of gasoil market as the supply is expected to be tight on converged turnarounds of major refineries and likely rising demand from fishery with the fishing-ban season past, industry sources pointed out.

However, their enthusiasms might still be affected by negative refining margins caused by lower high-sulfur residue prices, the sources noted.
Some refinery sources said they were waiting for a proper opportunity to resume operation with bullish expectation on the domestic gasoil market in August.

Guangdong has 17 minor refineries, all of which are involved in the survey. Refining capacities of these refineries amount to 12.45-mil mt per year.

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