Biggest China Oil Refiner Said to Cut Runs as Delta Spreads
- Sinopec cut operations by 5%-10% at some of its plants: ICIS
- Aggressive response to virus strain has led to mobility curbs
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China’s biggest oil refiner is scaling back operations as Beijing’s aggressive response to the delta virus variant saps demand for road and aviation fuel, according to an analyst.
State-owned China Petroleum & Chemical Corp., commonly known as Sinopec, is cutting run rates at some plants by 5% to 10% this month as compared with July levels, Jean Zou, an analyst at Shanghai-based commodities researcher ICIS-China, said in an interview. The analytics firm tracks refinery operations, maintenance plans and processing margins across China.