Sinopec Cuts Crude Processing at Yangzi Refinery on Losses, Weaker Demand
China Petroleum & Chemical Corp., the nation’s largest oil refiner, cut crude processing volume at its Yangzi oil refinery in the eastern Jiangsu province on refining losses and weaker demand, a plant official said.
The plant will process about 600,000 tons of crude this month, or about 141,000 barrels a day, which is below June’s output, said the official, who declined to be named because of company rules. He didn’t give June volume.
The plant’s refining business is losing money and the demand for gasoline, diesel and chemical products is weak, he said. The plant has a designed capacity of 8 million tons a year. China Petroleum & Chemical is known as Sinopec.
--Winnie Zhu. Editor: Clyde Russell.
To contact Bloomberg News staff for this story: Winnie Zhu in Shanghai at +86-21-6104-7013 or wzhu4@bloomberg.net
Rate this Page