China Major Refinery Process Rate Rises to 87.77
OREANDA-NEWS. December 26, 2011. China’s biggest oil refineries raised operating rates from two weeks ago to near the high of 2011 after two plants completed maintenance, Oilchem.net reported.
Utilization at China’s largest processors increased by 1.27 percentage points to an average 87.77 percent of capacity as of yesterday, the Shandong-based industry website said in a statement today. The estimate is based on a survey of 35 plants with a capacity of about 7.3 million barrels a day, or 71 percent of the nation’s total.
China Petroleum & Chemical Corp.’s Qilu and Maoming refineries brought their units back online in mid-December after maintenance, boosting operating rates by 11 percentage points and 24 percentage points, respectively.
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