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Sinopec cuts June crude processing by 8%

June 21st, 2012 | China Economic Net

China Petroleum & Chemical Corp, the nation’s biggest oil refiner, reduced crude processing for this month by 8 percent from its original plan amid weaker fuel demand and a possible price cut, according to leading Shanghai commodity researcher C1 Energy.

The company’s refining target will fall by about 1.5 million metric tons, Liao Kaishun, an analyst with C1 said on Wednesday.

China Petroleum, or Sinopec, also asked its refineries and sales units to shrink fuel stockpiles as the government may cut retail gasoline and diesel prices in July, said Liao.

Other Articles:

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  2. Sinopec processes 6.3% more crude oil
  3. Crude prices force refinery shutdowns
  4. Sinopec crude oil output up 2.27% in 2007
  5. Sinopec overseas crude output rises after Addax buy
  6. Sinopec, Saudi Basic Industries Corp to build $1.7b JV
  7. CNPC and Sinopec accused of hoarding oil
  8. Sinopec's crude oil, natural gas output up slightly in 2008
  9. Sinopec's crude oil, natural gas output up slightly in 2008
  10. Sinopec to expand refineries
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Category: China Oil Monitor