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Sinopec Shanghai Petrochemical to increase its oil production to 61.2% in 2021

April 09/2021

MOSCOW (MRC) -- China's Shanghai Petrochemical,part of Sinopec Group, targets to hike its oil product production yield to 61.2% in 2021 from 57.1% in 2020 and 60.5% in 2019, suggesting that the company will be reducing its petrochemical yield, reported S&P Global.

In addition, Sinopec Shanghai Petrochemical, which exports jet fuel and supplies it to domestic airports, plans to raise its jet fuel production by 32% year on year to 1.49 million mt in 2021, in anticipation of the easing of travel bans.

The refinery's planned jet fuel yield in 2021 is at 10.5%, still below the pre-COVID-19 level of 12.4% reported for 2019 but above the 7.7% in 2020.

As MRC informed earlier, Sinopec Shanghai Petrochemical plans to shut its high density polyethylene (HDPE) unit in Shanghai for a scheduled turnaround on April 18, 2021. The HDPE plant is expected to resume operations after a 29-day maintenance on May 17, 2021. Located at Shanghai in China, the unit has a production capacity of 260,000 mt/year.

According to MRC's ScanPlast report, Russia's HPE production totalled 329,800 tonnes in the first two months of 2021, up by 13% year on year. At the same time, only one Russian producer increased HDPE output.

China Petroleum & Chemical Corporation, or Sinopec Limited  is a Chinese oil and gas company based in Beijing, China. It is listed in Hong Kong and also trades in Shanghai and New York . Sinopec is the worlds fifth biggest company by revenue.
Author:Margaret Volkova
Tags:PE, crude and gaz condensate, HDPE, petrochemistry, Shanghai Petrochemical, Sinopec, China, Russia.
Category:General News
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