PetroChina Huabei Petrochemical set crude consumption target for May at 332,000mt, surging almost 100% from the previous month, C1 learned from a source with the refinery.
It plans to produce 100,000mt of gasoline and 122,000mt of gasoil in the month, up 38,000mt and 51,000mt, respectively, the source revealed.
The refinery will resume operation from maintenance in early May, the source said, adding it ran out of gasoline stock and held low gasoil inventory at present.
PetroChina halted wholesale supply of oil products in North China during maintenance period of Huabei Petrochemical, market sources said. Although supply tension would somewhat ease with the refinery back in operation, availability may remain limited amid expectations of hikes in domestic oil product prices, the sources opined.
Huabei Petrochemical is located in Renqiu City of North China's Hebei Province, whose yearly topping capacity reaches 5-mil mt.
