As of Jun 16, operation rates of major refineries in China averaged 82.31%, down by 1.47% from two weeks ago, 4.76 percentage points lower than a year earlier, showed C1's research.
Jinzhou Petrochemical cut run rate by 19% with its 600,000-mt/yr continuous catalytic reformer performing maintenance. Jinxi Petrochemical slashed run rate by 42% with its 3-mil-mt/yr crude distillation unit (CDU) and some secondary units in turnarounds. The other refineries mostly recorded stable utilization rates in the past two weeks.
The above figures were obtained through computation on the basis of primary refining capacities of refineries. If calculated on the basis of their complex refining ratio, the average run rate would be 88.53%, down 1.41 percentage points from two weeks ago.
C1's research involves 23 refineries with annual refining capacity amounting to 281-mil mt.
A total of 1.5-mil-mt/yr CDUs would be shut down for maintenance at Qingdao Refining & Chemical and Lanzhou Petrochemical on Jun 20, C1's data indicated.
