Shandong Jincheng Petrochemical Co Ltd set to shut down the entire refinery for maintenance in late November, a company source said, without revealing the specific timetable for resumption.
The company would close a 1.5-mil-mt/yr crude distillation unit, an 800,000 mt/yr fluid catalytic cracker and a 600,000 mt/yr coker in the month.
"We planned the maintenance on bearish outlook of the oil product market and great potential of refining loss," explained the source.
The company would suspend purchasing feedstocks--crude oils and fuel oils--for December consumption correspondingly, he added. Moreover, as fuel oil prices were high, they could just keep waiting for lower prices for the time being, he said.
The refinery normally consumed a total of 80,000-100,000mt of crude oils and fuel oils per month.
Shandong Jincheng Petrochemical Co Ltd, located Shandong Province, is an independent refinery with a topping capacity of 3.3-mil-mt/yr.
The company would close a 1.5-mil-mt/yr crude distillation unit, an 800,000 mt/yr fluid catalytic cracker and a 600,000 mt/yr coker in the month.
"We planned the maintenance on bearish outlook of the oil product market and great potential of refining loss," explained the source.
The company would suspend purchasing feedstocks--crude oils and fuel oils--for December consumption correspondingly, he added. Moreover, as fuel oil prices were high, they could just keep waiting for lower prices for the time being, he said.
The refinery normally consumed a total of 80,000-100,000mt of crude oils and fuel oils per month.
Shandong Jincheng Petrochemical Co Ltd, located Shandong Province, is an independent refinery with a topping capacity of 3.3-mil-mt/yr.
