China: Sinopec increases Aug oil product outsourcing target by 57% to 470,000mt

Chemical News: China: Sinopec increases Aug oil product outsourcing target by 57% to 470,000mt

https://www.chemnet.com Aug 10,2010
Sinopec is scheduled to outsource 470,000mt of oil products in five areas in southern China in August, sharply up 170,000mt or 57% from the previous month, a survey found.

The target is 200,000mt for gasoil and 270,000mt for gasoline.

The five areas comprise Jiangsu, Zhejiang, Shanghai, Fujian and Guangdong.
Gasoil supply became tight in some areas in August, when Sinopec and PetroChina both have part of refineries shut down for maintenance, denoted a source with Sinopec. In addition, higher inner settlement prices of oil products spurred provincial sales branches of Sinopec in the five areas to outsource more oil products to reduce purchasing costs, the source said.

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