China's new Yulong refinery runs crude unit at 60%–70%
China's latest greenfield refinery, Shandong Yulong Petrochemical, is running one of its two crude units at 60%–70%, two sources familiar with the matter said, as local government announced its official startup on Wednesday.
The refinery was in the process of bringing online its 200,000-bpd unit last Friday, Reuters had earlier reported.
Meanwhile, Yulong has offered 10-ppm sulfur diesel and some higher sulfur content diesel in the local domestic market for sale as of this afternoon, given that its hydrotreating unit is also in operation, two separate China-based trade sources said.
The refiner is planning to start up one of its reforming units in the next two days, an additional two China-based market sources said, adding that there are plans for the sale of some petrochemical products starting October.
So far for October shipment on the feedstock front, Yulong has bought several ESPO blend, Upper Zakum and Oman crude cargoes.
This refinery project is 51% owned by private aluminium smelter Nanshan Group, 46.1% by provincial government-backed Shandong Energy Group and the remainder by two local firms.
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