Economic Calendar

Wednesday, November 5, 2008

Sinopec Delays Restart of Tianjin Refinery Until Tomorrow

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By Winnie Zhu

Nov. 5 (Bloomberg) -- China Petroleum & Chemical Corp., Asia's biggest oil refiner, will delay the restart of a plant in the northern city of Tianjin until tomorrow after more than a month of planned maintenance, a company official said.

Sinopec, as China Petroleum is known, delayed the plant's restart because of high fuel stockpiles and technical problems encountered during the maintenance, Liu Caixin, a spokeswoman at the Tianjin plant, said by telephone in the city today. She didn't give details.

The plant was scheduled to resume operations in the middle of October, she said. Sinopec shut the plant that can process 5 million metric tons a year, or 100,000 barrels a day, of crude oil on Sept. 5.

To contact the reporter on this story: Winnie Zhu in Shanghai at wzhu4@bloomberg.net




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