China's crude processing volumes rose 4% year on year to 76.54 million mt over January and February, or 9.35 million b/d, the highest daily throughput on record, according to a release on the website of the National Bureau of Statistics.
The breakdown for each month was not provided.
The daily run rate in the first two months of this year surpassed refinery throughput of 9.28 million b/d in December -- the previous record high.
"The high runs in January and February are likely due to refiners continuing to ensure that gasoil and gasoline supplies are guaranteed in the market, particularly during the spring festival," an analyst at state China National Petroleum Corp.'s research department said Friday. "Even though demand was not expected to be strong, especially in January, refinery maintenance was light," he added.
Demand from the manufacturing and industrial sectors had been expected to soften in January due to the Lunar New Year holiday which started January 23.
The company said in statement on its website Friday that it supplied 18.7% more oil products to the domestic market in February compared with the same period last year, with gasoil supplies jumping 37.6%. It added that its overall crude throughput rose more than 200,000 mt in February, or 50,500 b/d, without providing further details.
CNPC said demand picked up last month because of exceptionally cold winter weather in the northern provinces and a drought in the south.
Gasoil consumption in February likely rose nearly 12% year on year to 3.69 million b/d, according to Beijing-based energy consultancy 3E Information Development and Consultants.
