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Sinopec starts up new Zhanjiang refinery complex

June 17/2020

MOSCOW (MRC) -- Top Chinese state refiner Sinopec Corp said on Tuesday it had started up a USD6 billion new refinery and petrochemical plant in south China, making it the countrys third integrated complex to start operations in the past 18 months or so, reported Reuters.

The Sinopec venture, situated in coastal city of Zhanjiang, comprises a 200,000 barrel per day (bpd) crude oil refinery and an 800,000 tonne-per-year ethylene facility, built at a cost of 44 billion yuan (USD6.2 billion), Sinopec said in a statement.

Two other complexes with combined refining capacity of 800,000 bpd have started up since early 2019, one built by privately-controlled Hengli Petrochemical Corp and the other by Zhejiang Petrochemical Corp.

Sinopec said its project would bring new investment worth 200 billion yuan to Guangdong province and thousands more jobs by supporting the manufacture of high-grade plastics, electronics and chemicals.

The new plant operates a 300,000 tonnage crude oil terminal and also berths that can dock vessels with capacity to carry 100,000 tonnes of refined products, Sinopec said.

As MRC informed earlier, in October 2019, Sinopec SABIC Tianjin Petrochemical Co. (SSTPC), a 50-50 joint venture of Sinopec and SABIC, began construction on an ethylene expansion project in Tianjin Province, China. The project will boost the company's ethylene capacity to 1.3-million t/y from 1-million t/y currently. Cost and a schedule for the project were not given.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 721,290 tonnes in the first four month of 2020, up by 4% year on year. Low density polyethylene (LDPE) and linear low density polyethylene (LLDPE) shipments grew partially because of the increased capacity utilisation at ZapSibNeftekhim.  At the same time, PP shipments to the Russian market totalled 347,440 tonnes in January-April 2020 (calculated by the formula production minus export plus import). Supply exclusively of PP random copolymer increased.

China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group"s key business activities include the exploration and production of oil and natural gas, petrochemicals and other chemical products, oil refining.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, LLDPE, crude and gaz condensate, PP random copolymer, propylene, LDPE, ethylene, petrochemistry, Sinopec, China, Rossiya.
Category:General News
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