Peiyang Chemical Equipment Co., Ltd.
Demand of Small Refineries Rises Up, China
Demand of Small Refineries Rises Up, China's Crude Oil Import Goes High.

Reference News Network reported that the Hong Kong media said, the world's second largest oil consumption country China's April crude oil imports rebounded. Private refineries have large demand. It prompts Chinese crude oil demand rise to highest record , and the congestion of Qingdao port tankers.

Hongkong "South China Morning Post" website reported on May 9th, according to China customs data of May 8th, April oil imports totaled 32 million 580 thousand tons; equivalent to 7 million 960 thousand barrels a day. It has an increase of 3.2% over the previous month, close to the highest record 8 million 40 thousand barrels in February. Net exports of petroleum products fell by 10%  to 1 million 170 thousand tons.

Oil imports have been pushed up by small Oil Refinery Companies. The companies operate independently of China's state-owned energy giants. They have been able to import their own crude oil for the past year. Due to the small refinery crude oil purchasing more, the last month of the port of Qingdao tanker unloading obstructed. In March, crude oil imports from Qingdao reached a record high, accounting for about 30% of China's overall share.

Amy Sun, the analyst of commodity research institutions Anxunsi in Shanghai said, demand for crude oil rises because small refineries have been using their import quotas since the beginning of the year, which is reflected in the highest record operating rate in history. She said, Qingdao port congestion may also lengthen the time of customs clearance of the arrived crude oil in the first quarter.

  • TEL:+86-022-87890750
  • FAX:+86-022-87893352
  • EMAIL:tiantim@peiyangchem.com
  • ADDRESS:15F, 269 Anshanxi Rd, Nankai District, Tianjin, China 300192