China’s independent refineries in eastern Shandong province have cut February run rates to a four-year-low of around 40% in February, down from 63.5% in January, as product sales slump due to the coronavirus outbreak, refinery sources and analysts told S&P Global Platts Thursday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Twelve refineries with a combined capacity of 39.6 million mt/year have shut since late January, resulting in the average run rate in the province falling to 40.9% in February, according to local energy information provider JLC. These include ChemChina’s 5 million mt/year Zhenghe Petrochemical refinery, which was taken offline earlier this week. The company’s Changyi Petrochemical and Huaxing Petrochemical operations, with a combined capacity of 15 million mt/year, are also slated to […]