Bloomberg News

Sinopec Maoming to Process 18% More Crude in June

June 07, 2007

Sinopec Maoming Petrochemical Corp. (386), a unit of China's second-largest oil company, said it will process 18 percent more crude oil this month compared with May.

The refinery, based in the southern city of Maoming in Guangdong province, will process 284,700 barrels of crude a day in June, parent China Petrochemical Corp. said in its online newsletter Sinopecnews today.

Oil product consumption in China typically rises between June and August as hot summer weather spurs demand for fuels to run air-conditioners. Diesel and gasoline use may rise as residents drive more during the two-month long school holidays starting in July.

Sinopec Maoming shut down a 20,000-barrel-a-day hydrocracking unit and a 60,000-barrel-a-day crude distillation unit in April, according to Sinopecnews.

The refinery processed 14.07 million tons of crude oil in 2006, the second-largest volume among domestic refineries, China Petrochemical said Dec 31.

China may increase crude oil processing capacity by 25 percent to 355 million tons in the five years to 2010, the National Development and Reform Commission, China's top economic planning agency, said in March last year.

To contact the reporter on this story: Winnie Zhu in Shanghai at wzhu4@bloomberg.net.

To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net


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