UPDATE 1-PetroChina's Lanzhou to raise Oct crude runs 50 pct

Mon Oct 6, 2008 11:14pm EDT
 
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BEIJING, Oct 7 (Reuters) - Lanzhou refinery, PetroChina's (0857.HK)(601857.SS)(PTR.N) largest in western China, will raise crude throughput in October by more than 50 percent from last month after repairs, an industry source said on Tuesday.

The plant will process 214,300 barrels-per-day (bpd) this month, up from the 141,100 bpd in September.

Lanzhou completed the overhaul of a 100,000 bpd crude oil unit late last month. The repairs were previously planned for July but were delayed as Chinese oil majors were required to boost fuel supplies ahead of the summer Olympics.

With ample fuel stocks in the domestic market following near record runs and record imports since early this year, both PetroChina and Sinopec (0386.HK)(600028.SS)(SNP.N) are expected to slow production while continuing to curb imports.

China will skip both diesel and gasoline imports in October for a second successive month, traders said. [nSP110764][nSP7350]

(Reporting by Jim Bai; Editing by Ken Wills)

 

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