• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 1 hour Biden admits he has been tested for Cognitive Decline several times. Didn't show any proof of test results.
  • 2 hours Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 45 mins During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 19 hours Apology Accepted!
  • 1 hour Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 13 mins Why Oil could hit $100
  • 1 hour Putin Paid Militants to Kill US Troops
  • 7 hours The Political Genius of Donald Trump
  • 21 hours U.S. natural gas at major disadvantage in Europe and China.
  • 22 hours Biden came out of his basement today (Thursday) and said , "we have 120 Million deaths from Covid 19.
  • 1 day CoVid in Spain, 9 months before China
  • 1 day Per most popular Indian websites it was Indian troops not Chinese troops breach of LAC that caused the clashes. If you know any Indian media that claim to the contrary please provide the link
  • 1 day The world is headed for big problems - interview with very smart economist
Iraq Set To Fall Short Of Ambitious OPEC+ Targets

Iraq Set To Fall Short Of Ambitious OPEC+ Targets

Iraq, OPEC’s no.2 oil producer…

The Long Road To Oil Demand Recovery

The Long Road To Oil Demand Recovery

As the United States slowly…

Predicting Oil’s Next $10 Move

Predicting Oil’s Next $10 Move

Oil prices have rallied almost…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

China’s Refineries Hit New All-Time Operating Record

Chinese crude oil throughput hit a new record in June as two new large refineries started up, driving processing rates higher, according to official data from China released on Monday.

Last month, Chinese refineries increased crude throughput by 7.7 percent year on year, to around 13.07 million bpd, Reuters calculations in barrels from data provided in tons by China’s National Bureau of Statistics (NBS) showed.

The start-up of two major new private refineries, each with 400,000-bpd processing capacity, helped Chinese refinery throughput jump to a record high, beating the previous record from April, when independent refiners helped processing volumes to rise to 12.68 million bpd.

Going forward, however, Chinese crude throughput is not expected to break the new record from June at least in the next few months, as there would be extended shutdowns amid high diesel and gasoline inventories and weak domestic fuel demand, Wang Zhao, an analyst with local consultancy Sublime Information Co, told Reuters.

Thanks to demand from the start-up of the two major refineries, Chinese crude oil imports in June also increased, by 1.7 percent from May, and by 15.2 percent from June last year.

China’s crude oil imports in June averaged 9.63 million bpd, up from the average of 9.47 million bpd in imports in May, and a 15.2-percent increase from 8.36 million bpd in June last year, according to Reuters calculations in barrels from data in tons provided by the Chinese General Administration of Customs.

Despite weaker refining margins and a glut of refined oil products, demand for crude in China increased last month thanks to Hengli Petrochemical, which had a new refinery start up earlier this year and ramped up to full 400,000-bpd capacity at the end of May. Another 400,000-bpd refinery, of Zhejiang Petrochemical, began trial runs, further pushing demand for crude.

Some Chinese refiners, however, are curtailing refinery runs in the third quarter as massive refinery start-ups and slowing domestic fuel demand have created a fuel glut in the country, hurting refining margins. 

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News