China: Fuel oil supply from S. China refineries estimated down 8% in Aug

Chemical News: China: Fuel oil supply from S. China refineries estimated down 8% in Aug

https://www.chemnet.com Aug 06,2010
Refineries in South China are estimated to supply about 165,500mt of fuel oil in August, down 8% from the previous month, a survey found.

This supply comprises 36,000mt of slurry, 57,000mt of bituminous feedstock, which is residue sold under the name of bitumen, 56,500mt of high-sulfur residue, 3,000mt of low-sulfur residue, 8,000mt of heavy carbon and 5,000mt of ethylene tar.

About 61% or 101,000mt of the supply is expected to be from local major refineries, down 3% on month. Meanwhile, supply from minor refineries in Guangdong is estimated at 64,500mt, down 16%. Teapot refinery will probably trim fuel oil production due to tight feedstock supply after customs inspection on cutback bitumen became stricter.

Fuel oil prices in South China may rebound in August over lower supply and recent rises in international crude prices, a market source remarked.

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