Shandong Independent Refineries’ Operating Rates Rose Greatly

According to SCI, the average operating rate of CDUs at Shandong independent refineries was 64.46% as of June 13, down 7.1% week-on-week.

The independent refineries which cut their operating rates previously resumed normal production gradually after the Summit in Qingdao. Therefore, the average operating rate increased a lot.

In the next week, Binzhou Befar Binyang Petrochemical will shut down its units for maintenance in the middle of June. Zibo Xintai Petrochemical and Rizhao China Overseas Energy will restart their units next week, but the refineries’ operating rates will be at low levels shortly after the units’ restart. All in all, it is predicted that the average operating rate of CDUs at Shandong independent refineries will decrease slightly next week.

SCI updated the methodologies of the operating rate of Shandong independent refineries’ CDUs at the end of the third quarter of 2017. A total of 38 independent refineries are sampled in the methodologies. The CDU capacity at the 38 independent refineries is 139.6 million mt/a.