C1 Energy (Shanghai) – Sep 6, 2010 －－－Refineries in South China are estimated to supply a combined 238,000mt of fuel oil in September, up 44% from the previous month, C1's survey found.
The commodity output comprises of 58,000mt of slurry, 59,000mt of bituminous feedstock, which was residue sold under the name of bitumen, 57,500mt of high-sulfur residue, 53,000mt of low-sulfur residue, 3,000mt of heavy carbon and 7,500mt of ethylene tar.
Nine major refineries are forecast to provide 180,500mt of fuel oil, sharply up 79% on month. The notable rise was mainly due to start-up of PetroChina's 10-mil-mt/yr Qinzhou refinery, which is expected to provide 60,000mt of fuel oil in September.
Fuel oil supply from 17 minor refineries would drop 11% to 57,500mt in total, because of falling refining margins on expected bearish gasoil market.
