China: Shandong independents' gasoil inventories drop notably over better sales

Chemical News: China: Shandong independents' gasoil inventories drop notably over better sales

https://www.chemnet.com Aug 05,2010
Shandong-based independent refineries' gasoil stockpiles declined obviously in the second half of July as their sales improved, C1 found. The 12 refineries surveyed by C1 held about 206,000mt of gasoil inventories on Jul 30, notably down 29,000mt or 12.34% from the middle of July.

These refineries' gasoil sales grew as traders replenished their stockpiles, which had almost been exhausted. Another reason for the notable drop in gasoil stockpiles was lower production as refineries trimmed operation rates. These refineries ran their CDUs at 40% of capacity on Jul 29, down six percentage points on week.

Meanwhile, their gasoline stocks inched up 500mt or 0.5% to about 100,000mt, as gasoline sales was relatively slack.

The refineries involved in C1's survey on oil product inventories in Shandong include Dongying Petrochemical, Weifang Hongrun Petrochemical, Qingdao refinery, Jinan refinery etc. The refining capacity of these refineries adds up to 34.20-mil mt/yr, taking up 53.23% of Shandong independent refineries' refining capacity.

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