Jan China Crude Processing Volume Down 0.85% M-O-M
According to SCI’s statistics, in January, China’s crude oil processing volume was 59.7923 million mt, down 0.85% M-O-M and up 6.03% Y-O-Y, and the daily average crude oil processing volume was 1.9288 million mt.
In January, the No.4 CDU at Sinopec Jinling Company and PetroChina Yunnan Petrochemical completed their turnarounds in the month, but a few refineries stopped production occasionally because of mechanical failure. As for independent refineries, Yongxin Chemical shut down its CDU and Shenchi Chemical shut down its FCC unit for maintenance in the month. Meanwhile, Haiyou Petrochemical started all units’ turnarounds. Therefore, the average operating rate of independent refineries went down. On the whole, the monthly average operating rate of CDUs in China inched down, resulting in a slight decrease in crude oil processing volume.
Remarks: In January 2021, SCI’s crude oil processing volume data sample covered 141 refineries, and their total CDU capacity reached 916.93 million mt/a, accounting for 94% of China’s total.
