MOSCOW (MRC) -- State-backed Sinopec Corp. has started a 5.17 billion yuan (USD811 million) refinery upgrade at a subsidiary plant in eastern China that aims to produce cleaner fuels and boost output of higher-value chemicals, reported Reuters.
The investment in Yangtze Petrochemical Corp, in Nanjing city in the province of Jiangsu, covers eight key facilities, such as a 2.6-million-tonne-per-year residue hydrocracker and a 2.8 MMtpy catalytic cracker.
“While maintaining the same crude processing capacity and without increasing emissions of pollutants, the upgrade will raise output of premium quality refined fuel,” the state refiner said on social media.
Construction is set to be completed in 2023.
As MRC informed previously, Sinopec is ready to launch its first green hydrogen project in Inner Mongolia next year as part of an effort to help meet its goal of becoming China’s top hydrogen company by 2025.
We remind that Sinopec Engineering (Group) and ExxonMobil (Huizhou) Chemical (EMHCC) have recently entered into a BEPC (basic design, engineering, procurement and construction) contract for the proposed Huizhou Chemical Complex Project (Phase I). The main units of the project include a 1.6 million tonnes/year ethylene flexible feed steam cracker, downstream polymer and derivative units and utilities. The main product units include two performance polyethylene (PE) lines and two differentiated performance polypropylene (PP) lines.
Ethylene and propylene are the main feedstocks for the production of PE and PP, respectively.
According to MR''s ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers 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.
MRC