Sep China Crude Processing Volume Down 2.13% M-O-M
According to SCI’s statistics, in September 2020, China’s crude oil processing volume was 58.9939 million mt, down 2.13% M-O-M and up 6.06% Y-O-Y, and the average daily processing volume was 1.9665 million mt. From January to September 2020, China’s total crude oil processing volume reached 492.5861 million mt.
During September, PetroChina Jinxi Petrochemical restarted its units from maintenance from the middle of the month, while Sinopec Qilu Company shut down its No. 4 CDU for maintenance at the same time. Moreover, due to the tepid refined oil sales and the aggravation of inventory pressure, some state-owned refineries reduced their crude oil processing volume. In terms of independent refineries, CNOOC Dongying Petrochemical shutdown all its units in the month, while Guangrao Kelida Chemical shut down its diesel hydrogenation unit for temporarily turnaround and restarted it within the month. Moreover, a few FCC units, gasoline and diesel hydrogenation units were restarted as well. On the whole, China’s crude oil processing volume in September declined from August.
Remarks: From September 2020, SCI’s crude oil processing volume sample covered 142 refineries in China, and their total CDU capacity reached 904.23 million mt/a, accounting for 94% of China’s total.
As for the output of refined oil, according to SCI’s statistics, in September, China’s gasoline output was 14.6978 million mt, down 0.09% and up 2.86% Y-O-Y. China’s diesel output was 18.0866 million mt, down 5.01% M-O-M and down 1.38% Y-O-Y. China’s kerosene output was 3.7985 million mt, up 0.81% M-O-M and down 19.68% Y-O-Y. China’s straight-run naphtha output was 8.7906 million mt, down 1.09% M-O-M and up 5.58% Y-O-Y.
