国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Industries

Crude shipments slow to 4-month low as stockpiles rise

(Agencies) Updated: 2015-04-14 09:50

China's record pace of crude imports is easing as its refiners fill commercial stockpiles and new tanks for holding emergency supplies remain under construction.

Overseas crude purchases totaled 26.81 million metric tons in March, data released on the website of the General Administration of Customs in Beijing showed on Monday. That is equivalent to 6.34 million barrels a day, down 5.2 percent from February and the slowest pace since November.

China accelerated its crude imports last year amid an almost 50 percent collapse in benchmark prices and its buying is now slowing just as the global market struggles to sustain a recovery.

Refiners including PetroChina Co have filled more than half of their commercial storage capacity, according to ICIS China, a Shanghai-based commodities researcher.

"China's crude stockpiling needs have waned with record buying in December," Jean Zou, an analyst at ICIS, said by phone from Guangzhou. "From April onward, refinery maintenance will also curb the nation's imports."

Refineries that account for 12 percent of the nation's processing capacity will shut units during the second quarter, according to the researcher. Crude imports may drop to 23 million to 24 million tons each month from April to June, it said on March 30.

The world's second-largest oil consumer may boost crude imports when more facilities for holding emergency reserves begin operations, ICIS China said.

It currently holds supplies equivalent to about 30 days of imports and the government is seeking to boost that level to 100 days by 2020, according to China Petrochemical Corp.

A proposed third phase of the country's strategic stockpiling program will comprise 232 million barrels of capacity, said Gao Shixian, a deputy director at the National Development and Reform Commission's energy research institute.

The plan has yet to be approved, he said in Shanghai on Friday.

Four facilities with capacity to store about 72.5 million barrels may come online this year, Barclays Plc said in a report on March 30. China's crude demand may be boosted by 140,000 to 170,000 barrels a day in 2015 and by as much as 190,000 barrels a day next year because of the need to fill strategic reserves, the bank said.

The nation's imports surged to a record 30.4 million tons in December, or about 7.19 million barrels a day, customs data showed. China National United Oil Co, known as Chinaoil, bought 47 cargoes on a Singapore trading platform that were to be delivered that month, according to data from Platts, which operates the system.

Hot Topics

Editor's Picks
...
酉阳| 满洲里市| 孝义市| 通河县| 东丰县| 积石山| 蒙自县| 慈利县| 木兰县| 湟中县| 临桂县| 滁州市| 甘谷县| 通城县| 平陆县| 万源市| 逊克县| 攀枝花市| 临桂县| 徐水县| 新龙县| 西乌珠穆沁旗| 南陵县| 吴堡县| 嫩江县| 弥勒县| 泰来县| 南丹县| 托克逊县| 万州区| 寿阳县| 新郑市| 曲靖市| 广平县| 瑞安市| 金堂县| 花莲县| 铜山县| 荆州市| 盐津县| 错那县|