Energy

Sinopec to reduce July oil processing rates in Guangzhou

(Agencies)
Updated: 2010-07-01 14:54
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China Petroleum & Chemical Corp, the nation's largest oil refiner, will reduce processing volumes at its Guangzhou plant by 2 percent this month compared with June, industry website Oilchem.net reported.

The plant plans to process 1 million metric tons of oil in July, or about 235,000 barrels a day, the Shanghai-based industry website said, citing an official at the refinery that it didn't identify. It didn't elaborate on the reason for the cut.

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The Guangzhou refinery won't shut any major refining units in the second half and will maintain monthly oil processing volume at around 1 million tons, it said.

The refinery in Guangdong province, China's biggest manufacturing hub, has an annual capacity of 15 million tons.

Sinopec, as China Petroleum is known, will almost double oil refining capacity at its Jiujiang plant to 10 million tons a year, Oilchem reported separately, without saying where it got the information. The plant, in Jiangxi province, plans to process 410,000 tons of crude oil this month, little changed from June, it said.