CPC shuts refinery unit

Wednesday, 2 May 2012 00:01 - - {{hitsCtrl.values.hits}}

SINGAPORE (Reuters): The Ceylon Petroleum Co (Ceypetco) has unexpectedly shut a unit at its 50,000 barrels-per-day refinery, reducing its jet fuel production, a company source said on Monday.

The shutdown is expected to last a week, said the source who was speaking on condition of anonymity as he was not authorised to speak to the media.

The source did not give details about the affected unit or its capacity. The reason for the shutdown is also unclear. “The production of jet fuel has been affected and a shortfall of 7,000 tonnes of jet fuel is expected,” the source said.

The domestic shortfall in jet fuel has caused the company to seek a prompt middle distillates cargo in the international market for delivery in early May, traders said. The cargo, comprising 75,000 barrels of 0.25 per cent sulphur gasoil and 80,000 barrels of jet fuel, is for delivery over 7-8 May. The tender, which was issued on Monday, closes on Monday and is valid for 72 hours.Ceypetco has scheduled planned maintenance at its refinery for two months from July, which is expected to cause a spike in imports into Sri Lanka during the period. The company is a regular buyer of gasoil, jet fuel and gasoline, typically purchasing about 800,000 barrels to over one million barrels every month, traders said.

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