C1 Energy (Guangzhou) – Mar 5, 2010----Jingmen Petrochemical will continue suspending base oils supply to marketing companies in March after a-month halt in February, a refinery source said.
The refinery will keep part of its base oils resources for underlying lubricants plants and sell the balance by itself, according to the source.
Its lubricants plants showed much stronger demand for base oils in March, when domestic lubricants market is stepping into oil change season from the low-viscosity to the high-viscosity grades, the source added.
Furthermore, the refinery would cut base oils output in the near term on planned unit maintenance.
In China, Group I base oils were in tight supply overall, as many of Sinopec's refineries controlled or halted sales of the product. Some buyers have to seek imported grades as substitutes. Meanwhile, some traders were inclined to offer their resources on bullish market outlook.
