Sinopec's diesel stocking hits record high
Updated: 2011-02-14 16:36
By Cai Muyuan (chinadaily.com.cn)
Sinopec's diesel stocks increased 93 percent compared to the second half of last year, Jinghua Times reported Monday. The company said its daily processing capacity and stocks each reached a record high.
One Sinopec official said the company processed crude oil at maximum capacity to ensure the oil supply could combat the agricultural drought. In January, the company increased crude oil processing by 7.2 percent year-on-year and 3.7 percent since December.
Currently, Sinopec's diesel stock in provinces like Henan, Anhui and Jiangsu increased significantly year-on-year. A stronger supply will be necessary when facing a drought.
In the second half of last year, China faced a tight supply of diesel because both Sinopec and CNPC (China National Petroleum Corp), the two energy giants in China, had low stocks.
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