China’s reliance on Middle Eastern crudes grew sharply in the first quarter of 2022, as the country reduced inflows from Russia, Brazil and the US, data from the General Administration of Customs showed April 20. The Middle Eastern crude deliveries rose 4.8% to 5.6 million b/d in Q1, taking a 53.8% market share in the .
Chinese refineries will slash throughput in April and lift oil product exports from initial plans to compensate for falling domestic demand due to COVID-19 lockdowns. As a result, 10 refiners from the 11 polled Sinopec and PetroChina refining sources said they have cut their April throughput by 30,000-100,000 mt from their initial planned volumes or .
China’s crude throughput rose 4.6% year on year to 14.13 million b/d in 2021 despite refineries cutting crude runs by 2.1% in December to offset product inventory pressure, National Bureau of Statistics data released Jan. 17 showed. The higher throughput in 2021 was attributed to refining capacity expansion, and as refineries produced more oil products .
The average utilization rate at China’s four state-owned refiners rebounded by two percentage points to 82.6% in November, from a five-month low of 80.6% in October, while independent refiners also raised run rates with refining margins remaining good. The four state oil companies Sinopec, PetroChina, CNOOC and Sinochem planned to process a total .
The average utilization rate of China’s four state-owned refiners fell from 84% in August to 82% in September, while independent refiners also cut run rates by two percentage points. As a result, the country’s crude throughput is likely to fall further from the 15-month low of 58.35 million mt in August, data from the National .