Sinopec's diesel stock surges 93% to record

SINOPEC Corp said its diesel inventory surged 93 percent from late last year - when a shortage hit China - to a record high as Asia's top refiner boosted crude processing to help fight a drought besetting the country.
Crude throughput in January rose 7.2 percent from a year earlier and 3.7 percent from a month earlier, Sinopec, as China Petroleum and Chemical Corp is better known, said yesterday. It plans to increase processing volume by another 2.4 percent this month from January's output.
The firm didn't specify volume figures for either crude runs or diesel stock levels but Reuters quoted a company official as saying it would process some 17.4 million tons or 4.54 million barrels per day.
"Both the daily processing volume and stock levels have reached the highest in history," Sinopec said, adding that there is no rationing of diesel at all its pump stations.
Source:Shanghai Daily