Operation rates of independent refineries in Shandong Province averaged 41.5% Thursday, slightly up 0.1 percentage points from one week ago, up 9.5 percentage points compared with a year earlier, C1's survey showed.
The refineries with straight-run fuel oil as feedstock saw worsening refining losses, so most of them had no intention to lift run rates.
However, Shandong Hengyuan Petrochemical increased daily throughput by 200mt to 2,000mt on hefty feedstock stock, a refinery source told C1.
As of Dec 23, a total of 27 independent refineries were in operation in Shandong, feedstock throughput of which added up to around 68,000mt per day, inching up 200mt on week.
The operation rate might not rise in the coming week because of expected limited upsides for domestic gasoil prices, although the government hiked retail ceiling prices by Yuan 300/mt Wednesday.
C1's survey involves in 32 independent refineries, with annual oil refining capacities aggregating 60.05-mil mt, accounting for 90% of the total topping refineries of Shandong independent refineries.
The refineries with straight-run fuel oil as feedstock saw worsening refining losses, so most of them had no intention to lift run rates.
However, Shandong Hengyuan Petrochemical increased daily throughput by 200mt to 2,000mt on hefty feedstock stock, a refinery source told C1.
As of Dec 23, a total of 27 independent refineries were in operation in Shandong, feedstock throughput of which added up to around 68,000mt per day, inching up 200mt on week.
The operation rate might not rise in the coming week because of expected limited upsides for domestic gasoil prices, although the government hiked retail ceiling prices by Yuan 300/mt Wednesday.
C1's survey involves in 32 independent refineries, with annual oil refining capacities aggregating 60.05-mil mt, accounting for 90% of the total topping refineries of Shandong independent refineries.
