Chinese refiners up output in August
China's biggest refiners, China Petrochemical Corp. and China National Petroleum Corp. are increasing output at their refineries in August, according to local reports, one reason being to meet anticipated seasonal demand by fishermen for diesel as marine fuel.
China Petrochemical, also known as the Sinopec Group, said in its company newsletter that fishing boats used by China's 750 million farmers and fishermen will be the main consumers of diesel oil.
Sinopec also said that an increase in the number of passenger-vehicles sold in China will support gasoline consumption. Some 872,900 passenger-vehicles were sold in June, clocking a biggest jump of 48% since February 2006.
According to the China Post, China's oil-processing volume rose to a record in June as recovering economic growth boosted fuel demand and improved profits from refining encouraged production.
China, which produces 7.7 million barrels per day (bpd) now accounts for 8.7% of total global refining capacity compared with Singapore's 1.25 million bpd or 1.4% of global share, according to the BP Statistical Review of World Energy June 2009.
China Petrochemical, also known as the Sinopec Group, said in its company newsletter that fishing boats used by China's 750 million farmers and fishermen will be the main consumers of diesel oil.
Sinopec also said that an increase in the number of passenger-vehicles sold in China will support gasoline consumption. Some 872,900 passenger-vehicles were sold in June, clocking a biggest jump of 48% since February 2006.
According to the China Post, China's oil-processing volume rose to a record in June as recovering economic growth boosted fuel demand and improved profits from refining encouraged production.
China, which produces 7.7 million barrels per day (bpd) now accounts for 8.7% of total global refining capacity compared with Singapore's 1.25 million bpd or 1.4% of global share, according to the BP Statistical Review of World Energy June 2009.