At least five refineries in Germany have reduced operating rates as stocks increase and demand plummets amid measures to curb the coronavirus pandemic. Retail fuel sales in Germany are estimated to have fallen by 30%-50% in March. As a result, wholesale buyers seek to decrease their April term volumes.
Miro cut runs at its 301,000 bpd Karlsruhe refinery to two-thirds of capacity. OMV said it had adjusted output at its refineries, including the 68,000 bpd Burghausen refinery. BP also slash throughput at its 82,000 bpd refinery in Lingen, while its 265,000 bpd Gelsenkirchen plant will be under maintenance until mid-May.
Bayernoil delays restart of its 90,000 bpd Neustadt refinery, reportedly due to low demand. It completed maintenance on schedule on April 6 but postponed restart for two weeks. Klesch signaled it is preparing to lower output at its 100,000 bpd Heide refinery due to demand decline.
Shell is studying the market for its refining plans and may reduce production at its 310,000 bpd Rhineland refinery. The company is cutting output globally to 80%-84% of capacity. Shell also holds stakes in the 301,000 bpd Karlsruhe refinery and the 208,000 bpd PCK Schwedt refinery.
