PetroChina (HKG:0857, SHA:601857) is set to switch off its last remaining crude unit at Dalian Petrochemical in northern China on June 30, Reuters reported Wednesday, citing four industry sources.
The closure is part of an earlier proposal for China's first full closure of a state-run plant, Reuters said, citing the sources.
The Dalian Petrochemical plant has a capacity of 200,000 barrels per day, according to the news agency.
PetroChina will start clearing its inventory of crude oil and other stocks this month, and will clean up the rest of its inventory by the end of August, the report said, citing two sources.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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