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Refinery Operations - April 2017

Source: OPEC 5/2/2017, Location: Europe

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The refinery utilisation rate in the US averaged around 87% during March, corresponding to 15.9 mb/d. This represented an increase of around 300 tb/d above the previous month and was around 100 tb/d lower than the same month a year ago. Refinery throughputs increased during March, as several refineries came back from maintenance, mainly on the USGC and the US West Coast (USWC).

European refinery runs averaged around 87% of capacity in March, corresponding to a throughput of 10.3 mb/d, a similar level to the previous month. Refinery throughputs continued to hold at a high level in Europe ahead of peak spring maintenance season, which is expected to put more than 1 mb/d of capacity off line in the coming month.

In Asia, refinery runs in India averaged around 5.0 mb/d during February, similar to the previous month’s levels. Meanwhile, Chinese refinery throughputs averaged 11.2 mb/d during February. Refinery runs in Singapore averaged around 91% in February, similar to the previous month, while Japanese throughput averaged 88% of capacity in March, falling around 6 pp due to some refinery maintenance.

Asian refinery utilisation rates are expected to remain at high levels to satisfy expected firm regional demand, although runs could be impacted by peaking refinery maintenance, which could put more than 2.5 mb/d of capacity in the Asian region offline during April.

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