China’s state-owned crude oil refineries (Sinopec, PetroChina, CNOOC, and Sinochem) have increased their crude oil refining rates from an average of 76% in May to 80% of capacity in June, as profit margins increase, a survey by energy analysis company S&P Global Platts showed.
Seven refineries, with a combined capacity of 1.49 million b/d, have been operating at above 100% capacity in June, accounting for 17% of the surveyed capacity.
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June’s runs of the refineries were also higher than the 79% recorded in the survey a year earlier, the data showed.
