China Independent Refineries’ Crude Import Volume Rose in Dec

The international crude oil price fluctuated upwards from October, and it remained at a high price level. The independent refineries still had high purchase interest. According to SCI, 17 independent refineries imported crude oil in November. The total import volume was 4,840kt, up 43.62% M-O-M. The import volume at Shandong Jincheng Petrochemical and Lihuayi Group Lijin Petrochemical dropped from October. The import volume at Shandong Kenli Petrochemical was flat from October. The import volume at the other 14 refineries increased M-O-M. Hereinto, the import volume at Shandong Shenchi Chemical, Dongying Yatong Petrochemical, Shandong Tianhong Chemical and Shandong Dongming Petrochemical Group increased by over 100%.

In December, 60 oil carriers arrived at the Qingdao Port and Lanshan Port, with a total crude oil weight of 6,891,161mt. The resources were mainly from Oman, Angola, Russia, the U.S., Saudi Arabia, Iran, etc. It is estimated that 10 oil carriers will arrive at the Qingdao Port in January, 2018, with the weight of 2,968,108mt. The resources will be mainly from Angola and South America.