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PetroChina's Dalian Refinery to Resume Operations in June

Gasoil News - Published on Wed, 20 May 2020

Image Source: PetroChina Dalian Refinery
Reuters reported that PetroChina’s biggest refinery, a 410,000-bpd facility in Dalian, will resume operations in late June after a two-month overhaul. This could mean an increase in Chinese oil imports from Russia because the Dalian facility is connected to the East Siberia-Pacific Ocean pipeline, and is the biggest processor of the ESPO blend.

The restart of the Dalian refinery will add to rising run rates in the world’s top oil importer China, which would likely be taken as good news for demand, no matter where the supply comes from.

There are already reports that Chinese refiners are ramping up their processing rates. In April, these rose by 11 percent from March as the country began to emerge from the months-long lockdown, reaching 13.1 million bpd. Also, the four-month average run rates for January to April were only moderately down on the year, suggesting that the industry did not suffer too severe a blow from the lockdown.

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Posted By : Yogender Pancholi on Wed, 20 May 2020
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