SEATTLE (Oil Monster): Zhejiang Petrochemical announced plans to shut down one of its crude oil refining units for maintenance in March as escalating tensions in the Middle East disrupt global oil supplies. The refinery operator, backed by Saudi Aramco, confirmed that the month-long maintenance will temporarily reduce production by around 20%.
According to company officials, the unit has a refining capacity of 200,000 barrels per day and is part of the company’s massive complex in Zhoushan. The overall refinery is designed to process roughly 800,000 barrels of crude oil per day, making it one of the largest refining facilities in China. Sources noted that the plant had been operating above its nominal capacity in February.
The ongoing conflict involving the U.S., Israel, and Iran has disrupted tanker movements through the Strait of Hormuz, a critical route that handles nearly 20% of global oil supplies. As a result, crude shipments from the Middle East have slowed significantly.
Industry analysts say China, the world’s largest crude importer, relies heavily on Middle Eastern suppliers. Data from Vortexa indicates that the Middle East accounts for 75–80% of Zhejiang Petrochemical’s crude purchases.
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