Sinopec Yanshan refinery to raise crude runs slightly in 2011


Sinopec's Yanshan refinery plans to process more than 11 million tonnes of crude oil, or 220,000 barrels per day this year, slightly higher than 10.99 million tonnes last year, a refinery official said on Tuesday.

Yanshan, in the suburb of Beijing, imports 60 percent of the crude it processes and supplies two thirds of the gasoline market in Beijing, the official said.

Every $1 rise in crude oil prices will lead to an increase of 400-500 million yuan ($61.7-$77.1 million) in its refining costs annually, he said.

Yanshan has a refining capacity of 13 million tonnes per year, or 260,000 bpd. ($1 = 6.483 yuan) (Reporting by Xu Wan and Tom Miles; Editing by Jacqueline Wong)

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