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South China fuel oil stocks up 0.3m tonnes

Weekly fuel oil inventories climb 300,000 tonnes year-on-year in South China.



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Updated on 29 Jul 2011 12:34 GMT

Stocks of fuel oil at South China's major oil terminals rose by 0.5 percent (week-on-week) and 15.6 percent (year-on-year) in the seven days up to July 27th, latest data shows.

According to local firm C1 Energy, fuel oil inventories totalled 1.94 - 1.96 million metric tonnes, representing an increase of 10,000 metric tonnes, or 0.5 percent, on the week before and 300,000 metric tonnes, or 15.6 percent, on the corresponding week in 2010.

Approximately 35,000 metric tonnes of fuel oil left the region's terminals over the 7-day period between 21st-27th July, which was a 21,000-tonne rise on the previous week's figure of 14,000 tonnes.

Meanwhile, 45,000 metric tonnes of fuel oil entered the region's terminals, comprising 5,000 metric tonnes of inner-trade fuel oil and 40,000 metric tonnes of Singapore fuel oil.

The tank storage facilities surveyed include PetroChina Fuel Oil's Zhanjiang oil terminal, Titan's Xiaohudao oil terminal, Zhanjiang Port oil terminal, BP's Nansha oil terminal, Dongguan Jinming oil terminal, Sinochem-Gree oil terminal, Yuehai's Xiaohudao oil terminal, Chimbusco's Zhuhai Guishan oil terminal and Xiji oil terminal.

The total capacity of the tank farms is around 2.7 million cubic metres. The latest inventory figure of 1.94-1.96 million metric tonnes therefore represents a 75 percent capacity.






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