Crude oil throughput at China's refineries in August rose 6.9% from a year ...
BEIJING/SINGAPORE - Crude oil throughput at China’s refineries in August rose 6.9% from a year earlier to a record high on monthly basis, data showed on Monday, driven by a rebound in refining margins and a ramp-up in production at new plants.
The August rate was up from 12.39 million bpd in July, but was still below the daily record of 13.07 million bpd in June, as new, large-scale plants accelerated their output. “Plants were doing okay in July and August with thin margins like 200 to 300 yuan per tonne, but not sure how sustainable that is,” said one executive.
The data showed China’s crude oil production in August rose 1% from a year earlier to 16.18 million tonnes, or about 3.81 million bpd. That compares to 3.84 million bpd in July.
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