China's April crude oil processing volume decreased by 0.3% year-on-year
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- Time of issue:2012-05-17 15:14
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(Summary description)After hitting a record high in January, the processing volume of Chinese refineries decreased for the third consecutive month in April, but the strong demand for refined oil still supported the refinery operating rate, offsetting the impact of the peak period. According to data released by the National Bureau of Statistics on Friday, China's crude oil processing volume in April was 36.96 million tons, a decrease of 0.3% from the same period last year. According to Dow Jones Newswires, average daily crude oil processing in April was 9.03 million barrels of oil equivalent, down from 9.07 million barrels in March. JPMorgan analysts said that although both the chain and the same year-on-year decline, due to strong domestic demand and more refineries put into operation, China's crude oil processing capacity is expected to be supported; the overall daily processing capacity in 2012 will be Increased by about 900,000 barrels. Huang Wensheng, a spokesperson for China Petroleum & Chemical Corporation, said that in order to ensure the supply of domestic refined oil, Sinopec has been operating at full capacity since last year. Despite extensive equipment overhauls, state-owned refineries have maintained high gasoline and diesel production. The company's 70,000 barrels per day of the Luzhou refinery's gasoline production in the first four months of this year increased, while the company's daily processing capacity of 160,000 barrels of Hainan refinery's steam and diesel production both rose.
China's April crude oil processing volume decreased by 0.3% year-on-year
(Summary description)After hitting a record high in January, the processing volume of Chinese refineries decreased for the third consecutive month in April, but the strong demand for refined oil still supported the refinery operating rate, offsetting the impact of the peak period. According to data released by the National Bureau of Statistics on Friday, China's crude oil processing volume in April was 36.96 million tons, a decrease of 0.3% from the same period last year. According to Dow Jones Newswires, average daily crude oil processing in April was 9.03 million barrels of oil equivalent, down from 9.07 million barrels in March. JPMorgan analysts said that although both the chain and the same year-on-year decline, due to strong domestic demand and more refineries put into operation, China's crude oil processing capacity is expected to be supported; the overall daily processing capacity in 2012 will be Increased by about 900,000 barrels. Huang Wensheng, a spokesperson for China Petroleum & Chemical Corporation, said that in order to ensure the supply of domestic refined oil, Sinopec has been operating at full capacity since last year. Despite extensive equipment overhauls, state-owned refineries have maintained high gasoline and diesel production. The company's 70,000 barrels per day of the Luzhou refinery's gasoline production in the first four months of this year increased, while the company's daily processing capacity of 160,000 barrels of Hainan refinery's steam and diesel production both rose.
- Time of issue:2012-05-17
After hitting a record high in January, the processing volume of Chinese refineries decreased for the third consecutive month in April, but the strong demand for refined oil still supported the refinery operating rate, offsetting the impact of the peak period. According to data released by the National Bureau of Statistics on Friday, China's crude oil processing volume in April was 36.96 million tons, a decrease of 0.3% from the same period last year. According to Dow Jones Newswires, average daily crude oil processing in April was 9.03 million barrels of oil equivalent, down from 9.07 million barrels in March. JPMorgan analysts said that although both the chain and the same year-on-year decline, due to strong domestic demand and more refineries put into operation, China's crude oil processing capacity is expected to be supported; the overall daily processing capacity in 2012 will be Increased by about 900,000 barrels. Huang Wensheng, a spokesperson for China Petroleum & Chemical Corporation, said that in order to ensure the supply of domestic refined oil, Sinopec has been operating at full capacity since last year. Despite extensive equipment overhauls, state-owned refineries have maintained high gasoline and diesel production. The company's 70,000 barrels per day of the Luzhou refinery's gasoline production in the first four months of this year increased, while the company's daily processing capacity of 160,000 barrels of Hainan refinery's steam and diesel production both rose.