Operating rates of independent refineries in Shandong Province averaged 43.3% Thursday, up 1 percentage point from one week ago, 9 percentage points higher than a year earlier, C1's research showed.
Sluggish sentiment in domestic oil product market amid relatively low crude prices damped operating interest of Shandong independent refineries, market sources pointed out.
As of Jun 16, a total of 26 independent refineries were in operation, feedstock throughput of which added up to around 69,800mt per day, up 1,600mt on week.
C1's research involves in 32 independent refineries, with annual oil refining capacities aggregating 58.85-mil mt, accounting for 90% of the total topping refineries of Shandong independent refineries.
