Operating rates of independent refineries in Shandong Province averaged 46.4% Thursday, down 2.2 percentage points from one week ago, 18.9 percentage points higher than a year earlier, C1’s research showed.
Jingbo Petrochemical went into overall turnaround on Feb 23, the main reason leading to the on-week drop, according to refinery source.
As of Feb 24, a total of 27 independent refineries were in operation, feedstock throughput of which added up to around 76,000mt per day, down 3,500mt on week.
C1’s survey involves in 32 independent refineries, with annual oil refining capacities aggregating 60.05-mil mt, accounting for 90% of the total topping refineries of Shandong independent refineries.
