10/06/2014
Stable supply of Asian buyers in July
The development of «PetroChina» Chinese refinery reduce its imports of Saudi crude
Sources in the oil refining industry said that to develop refinery, a unit of PetroChina to high sulfur raw processing may take longer than expected for months, reducing the company's purchases of Saudi crude oil. According to ' Reuters ', it was expected to end ' PetroChina kwangshi petrochemical company ' which runs a refinery capacity of 200,000 barrels per day in the city of qinzhou, a coastal city in the South of the development program by April to begin processing high-sulfur oil, but the period will be extended to August. This has become another campus for PetroChina to use oil instead of Saudi Arabia from January to sudden decline of 13 percent in China's imports of crude oil in the first four months of 2014.
Traders predicted early this year that the largest supplier of crude shipped to China stable oil supplies to Chinese buyers this year like last year. The trade official familiar with the situation that directly will be able to kwangshi compound once developed the use of 100,000 barrels of oil a day, and it seems that he won't be able to compound Chinese start loading oil before the end of the third quarter. According to the source, it is hoped to increase supplies in the following months of the year, adding that the delay of the kwangshi may cause low total imports of Saudi crude in 2014, despite slight increases in purchases of other Chinese refinery is a complex of Quanzhou in Fujian province in the southeast of the country run by the company sinochem. And Dalian petrochemicals unit of PetroChina ' use ' more Russian crude via the pipeline East Siberia-Pacific Ocean ' Espoo in the refinery in the port of Dalian in the southeast of the country from January to replace a Saudi supplies by about 100,000 barrels per day, said the officials.
The kwangshi refinery, started working in September 2010 are designed to handle low-sulfur crude from Sudan, where the ' CNN NBC ' command ' company PetroChina ' as an investor and producer. But industry officials said the Sudanese oil exports disrupted by conflicts and violence in the region and the economic feasibility of addressing the low sulphur crude pushed ' PetroChina ' development complex, the development work includes adding modules for desulphurization and hydrogen processing facilities for diesel and gasoline. The source familiar with Saudi Arabia oil industry will complete its crude shipments contracted for an Asian buyer at least one during July. The ' Aramco ' supply full shipments contracted for most of its customers in Asia since late 2009.
