Year-on-year increase of 11.4% for refinery runs at Shandong teapots.

摘要

JLC reported independent refineries in Shandong province, China, ran at 67.5% in Feb., representing a marginal downturn of 0.4% from Jan. as the Lunar New Year holiday slowed businesses across the board. The 42 independents surveyed account for 57% of China's independent capacity, and they have a collective capacity of 155MM mt/y (3.1MM b/d). Feb. feedstock consumption was 8.12MM mt (2.1MMb/d)—a 6.7% month-on-month decline. Imported crude made up approximately 83% of the feedstock slate, and resales allowed it to processed even by refiners that do not have import quotas. The most popular imported crude was Russian ESPO (the blend delivered on the East-Siberia-to-Pacific-Ocean pipeline) with Feb. consumption at 1.3MM mt (340K b/d). Feb. residual fuel oil (fuel oil or bitumen blends) consumption was down by 13.3% to 130K mt (31K b/d).