China 2011 crude runs seen up 8.5 pct y/y -federation


If the throughput matches the forecast, it suggests refiners in the world's second-largest oil consuming country would accelerate crude runs significantly in the fourth quarter based on earlier government data.

The National Bureau of Statistics said Chinese refiners processed 333.5 million tonnes of crude oil in the first nine months or 8.92 million barrels per day, up 6 percent on year.

The industry federation did not explain whether its gauge was the same as the one used by the statistics bureau, which only tallies firms with output value above 20 million yuan ($3.1 million).

China's leading refiners, Sinopec Corp and PetroChina Co Ltd , have all said they would step up operations to boost fuel output amid a supply squeeze, two weeks after China cut fuel prices.

China's natural gas output is expected to grow 12.5 percent on year to 106.3 billion cubic metres (bcm) this year and crude oil production to rise 3-4 percent to 210 million tonnes, the federation said in a report published in its newspaper, China Chemical Industry News.

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