Shandong-based independent refineries' consolidated stockpiles of gasoil and also gas declined modestly in the very first fifty percent of October as their sales remained vigorous in the middle of tight supply. The 12 refineries surveyed held concerning 169,500 mt of gasoil and also gasoline supplies in combination on Oct 15, down 6,700 mt from the end of September.
These refineries' gasoil stocks went down concerning 5,700 mt or 8.06% to about 65,000 mt, as well as their gas stockpiles dropped 1,000 mt or 0.96% to around 104,500 mt.
Citizen independent refineries still discovered durable gasoil sales in the duration, as supply from state-owned oil majors was short in Shandong, North and also Central China and so on. drag-reducing agents and also gasoline sales were also stimulated by the assumption of markups in oil product retail ceilings because of strong worldwide crude.
However the decrease in refineries' stockpiles softened as the majority of investors had actually completed accumulating their stocks.
Local independent refineries went for 47.6% of CDU capability on Oct 14, down 2 portion points from Sep 30, a survey showed.
The refineries associated with C1's survey on oil product stocks in Shandong include Dongying Petrochemical, Weifang Hongrun Petrochemical, Qingdao refinery, Jinan refinery and so on. The refining capacity of these refineries amounts to 34.20-mil mt/yr, using up 53.23% of Shandong independent refineries' refining capacity.