WRAPUP 1-China top refiners to raise Oct runs after repairs

By Jim Bai

BEIJING, Oct 7 (Reuters) - China's top refineries will
likely raise crude throughput in October by more than 3 percent
from last month as Lanzhou, the largest oil plant in western
China, revs up operations after a delayed maintenance.

Twelve major plants that account for more than a third of
China's capacity, most of them on the eastern and southern
seaboards, plan to process 2.52 million barrels per day (bpd)
of crude this month, up from 2.44 million bpd in September, a
Reuters poll showed.

The rate is about 89.4 percent of China's total refining
capacity.

PetroChina's (0857.HK)(601857.SS) Lanzhou refinery plans to
process at full tilt this month after completing the overhaul
of a 100,000-bpd crude unit, in part to achieve its annual
production goals. But throughput target at PetroChina's (PTR.N)
largest refinery, Dalian, remained lacklustre even after a
revamp to handle more crude.

Several key plants operated by Sinopec
(0386.HK)(600028.SS), Asia's top refiner, will keep crude runs
largely steady to last month's level.

A company executive said last month Sinopec (SNP.N) would
cut refining runs and slash crude oil imports from its original
plans amid ample domestic fuel supplies. [ID:nPEK117885]

"Processing cuts are probably uneven among plants," said an
official in a coastal Sinopec refinery.

"Large and efficient plants may be able to maintain and
even raise their operation rates, but other smaller ones may
have to reduce activity."

But looking ahead, refinery officials and analysts said
crude processing may not be as active as in recent months
because of bulging domestic fuel stocks and bearish demand
outlook amid China's economic slowdown and spreading global
financial turmoil.

"The weak macroeconomy will hold down growth in oil
demand," said Liu Youcheng, an analyst with Hongyuan
Securities.

"Fuel use has shown signs of easing in coastal provinces
since May and June as factories scaled down operations or were
closed for lack of orders."

China is expected to skip both diesel and gasoline imports
in October for a second successive month following record
bookings before Olympics, traders said. [ID:nSP110764]
[ID:nSP7350]

The country's gasoline stocks held by CNPC and Sinopec
Group, respective parent of listed PetroChina and Sinopec,
jumped 78.57 percent at the end of August from a year ago and
up 25 percent from the end of July, reported an industry
newsletter owned by the official Xinhua news agency.

Diesel inventories soared 161.80 percent from a year
earlier and rose 37.87 percent from the end of July, according
to the Oil, Gas and Petrochemicals newsletter to be published
late on Tuesday or Wednesday.

In addition, crude oil stocks at the end of August held by
the two state-owned oil majors increased 800,000 tonnes from
the end of July.
=======================================================
PLANT OCT RUNS SEPT RUNS REFINING CAPACITY

(bpd)
=======================================================
Zhenhai 400,000 389,300 400,000
Maoming 270,800 262,800 270,000
Qilu 206,600 209,300 200,000
Gaoqiao 202,500 199,500 230,000
Guangzhou 219,000 226,300 270,000
Jinling 247,300 238,500 270,000
Dalian 270,800 279,800 410,000
Lanzhou 214,300 141,100 200,000
Fujian 73,000 73,000 80,000
Jinzhou 127,200 126,500 140,000
Jinxi 127,200 136,300 150,000
WEPEC 164,800 160,600 200,000
========================================================
TOTAL* 2.52 2.44 2.82

*in million bpd.
(Additional reporting by Beijing newsroom, Editing by Ramthan
Hussain)