Sinopec says refineries operating above average rates

摘要

Singapore—China Petroleum & Chemical Corporation, or Sinopec Corporation, in a recent report said that it was operating its refineries at well above global average refining rates and has raised gasoil production over the first 11 months of the year by 5% from 2010. The report, by parent company China Petrochemical Corporation, or Sinopec Group, follows news in the local media that a widespread diesel shortage has once again affected the country and long queues can be seen at retail stations in several provinces. Many in China attribute the shortage to the two main national oil companies—Sinopec and China National Petroleum Corporation—limiting refined product supplies to retail stations to cut down losses.