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Citgo intends to further increase its refinery capacity utilization

June 11/2021

MOSCOW (MRC) -- US refining company Citgo Petroleum expects to continue increasing its refinery utilisation rates after weather events hit its facilities last year and in the first quarter, reported Reuters with reference to Chief Executive Carlos Jorda's statement.

Citgo's utilisation rate rose in March for an average of 83% in the first three months of the year, a quarter when a winter storm that severely affected refiners in the US Gulf Coast contributed to the company's net loss of USD180 million, the firm said last month.

As MRC wrote before, in September 2020, Citgo Petroleum Corp said it did not plan to idle its 418,000 barrel-per-day (bpd) Lake Charles, Louisiana, refinery damaged by Hurricane Laura. Rumors have circulated since Lauras passage over the Lake Charles area on Aug. 27 that Citgo was considering shutting the refinery for an indefinite period because of the extent of the damage and continuing low demand for motor fuels in the COVID-19 pandemic.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 744,130 tonnes in the first four month of 2021, up by 4% year on year. Shipments of all PE grades increased. At the same time, PP deliveries to the Russian market were 523,900 tonnes in January-April 2021, up by 55% year on year. Supply of homopolymer PP and PP block copolymers increased, whereas shipments of PP random copolymers decreased.
Author:Margaret Volkova
Tags:crude and gaz condensate, Citgo petroleum corporation, USA.
Category:General News
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