Refinery utilization at China’s biggest plants rose to the highest level in 16 weeks after some facilities resumed following maintenance, according to Oilchem.net.
The run rate increased 4.8 percentage points from two weeks ago to an average 86.3 percent of capacity as of yesterday, the Shandong-based industry website said in a statement today. That’s the highest since February 2. 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.
Utilization may fall in June as China Petroleum & Chemical Corp. (600028)’s Jinling refinery and Sinopec Shanghai Petrochemical Co. (338) will take some units offline for maintenance, Oilchem said.
Refineries in the east of the country operated at 91 percent of capacity as of yesterday, while those in central regions were at 80 percent, the report showed. Plants in the south were at 95 percent, those in the northeast at 79 percent, the northwest at 84 percent, and the north at 85 percent.
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