Chinese Refineries Handled over 54 Million mt Crude Oil in Feb
In February, the total processing volume of PetroChina’s CDUs was 12.7 million tons, down 5.22% M-O-M and up 8.92% Y-O-Y. The total processing volume of CDUs at Sinopec was 19.196 million tons, down 10.31% M-O-M and up 29.5% Y-O-Y. The total processing volume of CDUs at CNOOC was 3.095 million tons, down 14.38% M-O-M and up 12.96% Y-O-Y. The processing volume of CDUs at independent refineries was 19.775 million tons, down 7.48% M-O-M and up 69.96% Y-O-Y.
In the first half of February, the NO.1 CDU at Sinopec Baling Company remained in shutdown, and Sinopec Jinan Company and Sinopec Changling Company started all units’ turnarounds in late February. Therefore, state-owned refineries’ crude oil processing volume went down in the month. No newly added CDUs’ turnarounds at independent refineries were seen in February, and Hengrunde Petrochemical finished the CDU turnaround in the month. But during the Chinese New Year holiday, some independent refineries cut their operating rates slightly. And there were fewer working days in February. Therefore, Chinese refineries’ crude oil processing volume in February went down, but the average operating rate of CDUs went up.
