BEIJING, May 7 - China's top refineries will trim
their crude oil processing in May by about 6 percent from April
due to major planned maintenance, the first cut this year after
plants stepped up crude runs earlier this year in anticipation
of a recovery in demand. The reduction, which follows a ramp-up in runs from their
near three-year low at the start of the year, would help oil
firms further cut their hefty refined fuel inventories at a
time when sales was picking up as they brace themselves for a
recovery in production later on. Twelve major plants accounting for over a third of China's
capacity, most of them on the eastern and southern seaboards,
plan to process 2.34 million barrels per day (bpd) of crude in
May, down from the actual 2.49 million bpd in April, a Reuters
poll showed. The level would represent 83 percent of their total
refining capacity.
their crude oil processing in May by about 6 percent from April
due to major planned maintenance, the first cut this year after
plants stepped up crude runs earlier this year in anticipation
of a recovery in demand. The reduction, which follows a ramp-up in runs from their
near three-year low at the start of the year, would help oil
firms further cut their hefty refined fuel inventories at a
time when sales was picking up as they brace themselves for a
recovery in production later on. Twelve major plants accounting for over a third of China's
capacity, most of them on the eastern and southern seaboards,
plan to process 2.34 million barrels per day (bpd) of crude in
May, down from the actual 2.49 million bpd in April, a Reuters
poll showed. The level would represent 83 percent of their total
refining capacity.
