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Chinese Oil Majors Consume More Crude In July

OilPrice.com

PetroChina and Sinopec’s daily crude consumption grew in July 2019, because of unit restarts by PetroChina, JLC data shows.

The two companies’ crude throughput totaled 33.46 million mt in July, with the daily crude consumption rallying by 1.25% month on month to about 1.08 million mt.

PetroChina processed 13.76 million mt of crude in the month, with the daily crude throughput at 444,000 mt, an increase of 5.68% month on month, the data indicates.

PetroChina brought four refineries back on stream in June and July, with a total refining capacity of 760,000 bbl/day. Urumchi Petrochemical and Lanzhou Petrochemical both restarted their refineries after overhauls in the middle of June, which drove up their crude consumption in July. Jinzhou Petrochemical and Liaoyang Petrochemical brought their refineries back online in the first half of July.

In contrast, Sinopec’s crude consumption fell because of unit maintenance. The company processed 19.70 million mt of crude in July, with the daily crude throughput at about 635,000 mt, a decline of 1.63% month on month, the data shows.

Zhanjiang Dongxing Refinery in Guangdong, with a topping capacity of 100,000 bbl/day, underwent a turnaround that was scheduled to last from July 2 to early September. In addition, Jingmen Petrochemical in Hubei began maintenance at a 32,000 bbl/day crude distillation unit on June 28.

PetroChina and Sinopec’s daily crude throughput is expected to grow further in August, as more refineries come back online.

By JLC International

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