Sinopec Jinling to run at full capacity

Sinopec Jinling Petrochemical Corp., which operates one of China’s largest refineries, plans to ramp up crude runs to full capacity this year even though its margins have been in the red since July 2009, Zhang Dafu, the company’s chairman, said. The plan by the east coast refinery to process 13.5 million metric tons of crude oil in 2010, equivalent to 270,000 barrels a day, marks a more than 9% growth on last year’s runs. China Petroleum & Chemical Corp. (SNP), Jinling’s parent company, is continuing to encourage refineries to produce more gasoline at the expense of diesel this year, as robust auto sales are expected to boost demand for the fuel, said Zhang. (March 8, 2010)