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China's Nov oil products output rise on year, led by jet/kero gains

http://www.chemnet.com   Dec 18,2014 Platts
China's Nov oil products output rise on year, led by jet/kero gains
China's oil products output in November grew from a year earlier on increased refinery throughput, data from the National Bureau of Statistics showed Tuesday, December 16.

Domestic gasoil production last month rose 3.9% year on year to 15.12 million mt while LPG, gasoline and jet fuel/kerosene all posted double-digit growth rates.

Fuel oil output was up 4.5% from a year earlier at 2.29 million mt.

Only naphtha output showed a decrease last month, falling 3.2% year on year to 2.34 million mt.

The NBS had said on Friday that crude throughput last month rose 5.5% year on year to 42.25 million mt or an average 10.32 million b/d.

The gasoline yield as a percentage of overall crude throughput rose to 21.78% in November, from 20.77% a year earlier, while the gasoil yield slipped to 35.78% from 36.33% over the same period.

In the first 11 months of this year, refinery throughput was up 4.7% from the same period of 2013 at 455.41 million mt.

Output gains for individual oil products were led by gasoline and jet fuel/kerosene, although fuel oil production slipped 1.5% year on year to 23.27 million mt.

So far this year the gasoil yield has fallen to 35.14% from 36.19% over January-November last year, while the gasoline yield has edged up to 21.87% from 20.57% previously.

China's refiners have changed their production slate to maximize gasoline and jet fuel/kerosene output to meet high demand growth. Gasoil demand has tapered off in the last two years.
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