Operating rates of independent refineries in Shandong Province averaged 39.6% Thursday, down by 5.1 percentage points from one week ago and down by 0.4 percentage points compared with a year earlier, C1's research showed.
Many of the refineries reduced crude runs with pessimistic expectations on the August oil product market, market sources said.
As of Jul 28, a total of 24 independent refineries were in operation, feedstock throughput of which added up to around 73,700mt per day, down by 2,000mt on week.
C1's research involves in 32 independent refineries, with annual oil refining capacities aggregating 61.85-mil mt, accounting for 90% of the total topping refineries of Shandong independent refineries.
