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Pemex Transformación Industrial, a fully owned subsidiary of Petroleos Mexicanos, has been created.
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DOW petrochemical size in Terneuzen has been added.
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OQ Refineries and Petroleum Industries Company (OQ RPI) has been added as a 100% shareholding wholly owned subsidiary of OQ. |
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CNOOC Petrochemical Investment Co., Ltd. has been added. |
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Illuminate Aggregator LP in Derlaware is a joint venture between HPL Technologies BV (Netherlands) and Rhône Group (UK), which has acquired Lummus Technologies. Haldia Petrochemicals Ltd. (HPL) annual report 2023 - 24 reports the following subisidiaries of Illuminate:
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IRPC integrated complex mass balance has been initialized. #irpc #refinery #rayong #crudeoil #olefins #aromatics #petrochemicals #petroleum #fuels |
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PDH plant, technology and production have been added to Shandong Tianhong Chemical refinery.
#shandong #tianhong #petrochemical #refinery #pdh #oleflex #uop #propylene |
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Shandong Tianhong Chemical has been added and its mass balance initialized.
#shandong #tianhong #petrochemical #refinery #crudeoil #wandaggroup |
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Hengyi Petrochemical Company has been added.
#hengyi #petrochemical #china #zheijiang #hangzhou #pta #pet #polyester #paraxylene #meg #ethyleneglycol #cpl #pa6
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Release time: 2023-09-15 15:21:50 Source: Saudi Arabia News (Reprinted by Business Department 3) Saudi Basic Industries Corporation (SABIC, Riyadh, Saudi Arabia) and China Petrochemical Corporation (Sinopec) announced the commercial operation of a new polycarbonate (PC) plant built by the SSTPC joint venture. SSTPC is jointly funded by both parties in a 50:50 ratio. Founded in 2009, Sinopec (Tianjin) Petrochemical is a large petrochemical company with nine world-class chemical, polyethylene (PE) and polypropylene (PP) production plants. The new polycarbonate plant is designed to produce 260,000 tons per year and is an important part of Saudi Basic Industries Corporation's polycarbonate growth strategy in China, which will promote cooperation with international and local customers. |
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Anqing will stop operating its 1.4mn t/yr fluid catalytic cracker (FCC) and 700,000 t/yr deep catalytic cracking unit, which are located near a residential area, for environmental reasons. The project will involve adding a new 3mn t/yr DCC that will enable the refinery to process crude with a higher sulphur content of 1.5pc. Anqing currently produces 30,000 t/yr of polypropylene, 100,000 t/yr of ethylbenzene and styrene and 210,000 t/yr of acrylonitrile, among other products. It will scale up output of these products through the upgrading project. |
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In June 2021, Sinopec's Shanghai Petrochemical registered Shanghai Jinshan Petrochemical Carbon Fiber Co., Ltd., a wholly-owned subsidiary of Sinopec. The new company focuses on breakthroughs and industrialization of carbon fiber technology. It not only participates in the research and development and production of new carbon fiber materials and downstream composite materials, but also involves the operation and after-sales service of the carbon fiber product market. This achievement will help reduce China's dependence on imported large-tow carbon fiber and promote high-quality development of domestic carbon fiber industry. Sinopec Produces China's First Batch of Large Tow Carbon Fiber SHANGHAI, Oct. 14, 2022 – China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") has successfully produced China's first batch of large tow carbon fiber at the company's production base in Shanghai, making the company the first in the country and fourth in the world to possess large tow carbon fiber technology. Sinopec's production line has adopted its self-developed PAN (polyacrylonitrile) base large tow precursor and carbon fiber technologies. The project is being implemented in two phases and expects to be in full production in 2024, projecting an annual production capacity of 24,000 tons of protofilament and 12,000 tons of large tow carbon fiber. Large tow carbon fiber refers to roving that contains 48,000 filaments or more. The high-performance material is often referred to as the "king of new material" and "black gold." The product developed and manufactured by Sinopec Shanghai is a new type of high-strength carbon fiber with a carbon content of over 95 percent. It has outstanding excellent mechanical properties and a specific gravity that's less than one fourth of the steel, yet a strength that's seven to nine times stronger. It is also corrosion resistant. As the material can be widely used in producing parts and components, it is expected to be used for an increasing amount of industrial infrastructure projects in China, including ones related to wind power, solar power, high-speed rail, and aviation. "Sinopec has customized a special production line for large tow carbon fiber, including production equipment and techniques, which has enabled us to design oxidizing furnaces and carbide furnaces that revolutionizes not only the core technology of temperature field control, but also has a revolutionary energy-saving design, marking a major milestone in the development of China's carbon fiber industry," said Huang Xiangyu, carbon fiber expert and deputy general manager of Sinopec Shanghai. Sinopec now owns 251 patents related to carbon fiber and 46 patents for carbon fiber composite materials, the largest number in China and third in the world, and through scaled up investment and industrial layout, Sinopec is committed to being a major contributor to the development of China's carbon fiber industry. Oct. 24, 2024 – Shanghai Petrochemical carbon fibre composite experimental base opened. This initiative reflects the requirements and efforts of Chinese conglomerate Sinopec (parent company of Shanghai Petrochemical) to build a world-class carbon fibre industrial base. This will effectively achieve a seamless transition from small trials to pilot trials, and then to industrialised technology development, forming a series of solutions from composite material development to application, and further giving full play to industry, academia and research. At present, a number of experimental production lines have been built or are under construction, including a thermoplastic panel line, a thermoplastic prepreg line, a thermoset prepreg line, a panel pultrusion line, a threaded bar pultrusion line, a fabric pultrusion line and a high-performance resin line. The resin line has pilot and mass production capabilities for composite materials with thermosetting and thermoplastic properties, and diversified preparation processes. In the future, Shanghai Petrochemical says it will continue to improve its technical level and production capacity, actively moving towards the goal of “strengthening and optimising the new materials industry with carbon fibre as the core“. |
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Steam cracker technology has been identified as supplied by Linde. |
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Yangzi-BASF Light Hydrocarbon Comprehensive Utilization Project with 1 million tonnes steam cracker begins construction, receives environmental impact assessment. |
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7th Sep 2024 | Source: DT New Materials, via Sohu.com |
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The oil conversion of the two Chinese oil companies SINOPEC and PETROCHINA has accelerated. Nowadays, it is imperative for traditional fuel-based refineries to transform into chemical-based refineries. In recent years, Sinopec and PetroChina have accelerated their transformation from oil refining to new chemical materials. Typical Enterprises of PetroChina in Reducing Oil and Increasing Chemicals On October 31, PetroChina held a 2024 third quarter performance briefing in Shanghai, mentioning that in the first three quarters of 2024, the commodity volume of China's petrochemical products was 28.643 million tons, a year-on-year increase of 9.7%. The output of new materials was 1.618 million tons, a year-on-year increase of 62.6%. This data shows that PetroChina has achieved outstanding results in the field of refining and new materials industry by reducing oil and increasing chemicals. In 2023, the output of new materials of China's petrochemical industry was 1.37 million tons, a year-on-year increase of 60%, and the refining and new materials business achieved an operating profit of 36.94 billion yuan. 01 | Jilin Petrochemical At present, the Jilin Petrochemical Refining and Chemical Transformation and Upgrading Project with a total investment of 33.9 billion yuan is accelerating. It is expected that 18 main units and 142 small overall projects of the transformation and upgrading project will be delivered before November 30. Before the end of the year, all 21 units will be delivered, and the project will be fully put into production in 2025. After it is put into production, it can achieve an increase of 2.8 million tons of chemical products per year. After the project is put into production, while maintaining the crude oil processing capacity unchanged, it can achieve a reduction of 2.63 million tons/year in oil product output and an increase of about 2.77 million tons/year in chemical products. The effect of "reducing oil and increasing chemicals" is significant; especially after the ABS production capacity reaches 1.8 million tons/year, it will rank first in China and third in the world, highlighting the advantages of the industrial chain; new high-value-added chemical products and new materials such as EVA, bisphenol A, and butadiene rubber will be added. Jilin Petrochemical has developed a high-end ABS product with high impact resistance, which is the only ABS product in China that meets the technical requirements of national and American standards for Class A helmets. This product not only meets the rigidity and toughness requirements, but also has good low temperature resistance. In an environment of -30℃, it has the same impact resistance as ordinary helmets at room temperature. 02 | Daqing Petrochemical In November 2020, Daqing Petrochemical's refining structure adjustment, transformation and upgrading project, including 1.2 million tons/year continuous reforming unit, 2 million tons/year catalytic cracking unit and 12 other main units and 29 supporting public works and auxiliary facilities, were fully completed and put into operation. At present, Daqing Petrochemical's ethylene unit de-bottleneck and downstream supporting projects have been completed and handed over, with a total ethylene production capacity of 1.38 million tons/year, and the ethylene energy consumption of the E3 unit has dropped to less than 587.5 kg of standard oil/ton, reaching the industry's energy efficiency benchmark level. Daqing Petrochemical has strengthened cooperation with scientific research institutes and implemented major CCUS scientific and technological projects. The on-site application of the independent technology of new coke-suppressing furnace tubes has achieved good results, and promoted the high-quality development of enterprises through technological progress. Carry out research on the localization of catalysts, and 4 imported catalysts have been replaced by domestic products for the first time. In terms of new materials, Daqing Petrochemical actively implements the new material acceleration project and strives to create a "product giant". In 2023, Daqing Petrochemical will develop 7 new products such as lithium battery diaphragm materials and Zhongmenni chlorinated polyethylene type B materials, and increase the output of 19 new (high-efficiency) products such as 19G and 2820D by 522,000 tons, and produce 11 new material products with grades such as DQDN3711 and UH060P, etc. 40,800 tons. In the first half of this year, it continued to expand the production of new (high-efficiency) chemical products such as DQDN3711 and 19G, and successfully developed 4 new products such as QL505PR and special functional fibers. 03 | Dushanzi Petrochemical At present, Dushanzi Petrochemical is accelerating the construction of the Tarim 1.2 million tons/year Phase II ethylene project, which will quickly release 1.2 million tons of polyethylene, 450,000 tons of polypropylene, and 100,000 tons of rubber production capacity. At the same time, it can provide 400,000 tons of raw materials per year to drive the development of the downstream industrial chain. The Tarim 1.2 million tons/year Phase II ethylene project adheres to the innovative and green construction concept and has built 11 major production units, 10 of which use domestic technology (9 use China Petroleum’s own technology); it maximizes the use of domestic technology and localized equipment, with a localization rate of 99%. At the end of October this year, the first domestically produced dual-end functionalized solution-polymerized styrene-butadiene rubber SSBR3540 F was successfully started up at the 240,000 tons/year SSBR/SBS rubber unit of PetroChina Dushanzi Petrochemical , filling the domestic gap. Currently, the production capacity of solution-polymerized styrene-butadiene rubber of Dushanzi Petrochemical has reached 160,000 tons/year. 04 | Lanzhou Petrochemical On June 3, the feasibility study report of the Lanzhou Petrochemical Company's transformation and upgrading ethylene renovation project (million-ton ethylene project) was approved by the China National Petroleum Corporation Party Committee Meeting, marking a key breakthrough in the project's advancement. Lanzhou Petrochemical Company's transformation and upgrading ethylene renovation project eliminated 240,000 tons/year of obsolete ethylene production capacity, optimized 460,000 tons/year of ethylene, carried out 1.2 million tons/year of ethylene renovation, and built and put into use projects such as medical materials and high-end electronic protective film material production equipment, to comprehensively create a million-ton new material base. After years of continuous optimization and adjustment of its structure, Lanzhou Petrochemical has formed an integrated refining and chemical production structure, with an annual ethylene output of 1.5 million tons, nitrile rubber production capacity ranking third in the world and second in Asia, and medical polypropylene RP260 filling the gap in the domestic medical material market. In 2024, Lanzhou Petrochemical will successfully produce metallocene ultra-low density polyethylene mPE1012 for the first time; produce the first batch of 220kv high-voltage cable material products CL2140P, breaking technical barriers; and implement the conversion of nitrile rubber NBR2805G and other brands in the rubber field. At present, Lanzhou Petrochemical's new material products have covered many high-tech industries such as medical polyolefins, automotive polyolefins, and metallocene polyolefins. 05 | Guangxi Petrochemical The Guangxi Petrochemical Refining and Chemical Integration Transformation and Upgrading Project plans to build an ethylene refining unit with an annual capacity of 1.2 million tons and corresponding supporting facilities, including 14 chemical units and 2 refining units. It will promote the transformation of Guangxi Petrochemical from a "fuel type" to a "chemical product and organic material type", and realize the transformation from the refining-based refining and chemical basic industry to the "basic + high-end" energy and chemical material modernization. The total investment of the project is 30.5 billion yuan. After completion and production, it can reduce oil products by 3.49 million tons and increase chemical products by 3.06 million tons each year. 06 | Guangdong Petrochemical As the world-class project with the largest one-time construction scale in China, the Guangdong Petrochemical Refining and Chemical Integration Project was fully put into production on February 27, 2023. This project is the largest refining and chemical project invested by PetroChina at one time, with a project scale of 20 million tons/year of refining + 2.6 million tons/year of aromatics + 1.2 million tons/year of ethylene, forming a unique deep processing route for heavy and inferior crude oil in the refining and chemical business, realizing "oil where oil is suitable, aromatics where aromatics are suitable, olefins where olefins are suitable". Inventory of Typical Sinopec Enterprises Reducing Oil and Increasing Chemicals Sinopec actively responded to the low point of the chemical industry's business cycle, adhered to the "basic + high-end" approach, continued to promote the diversification of raw materials, increased efforts in the development of new materials and high value-added products, and expanded the space for creating benefits. Vigorously promote the development of domestic and overseas markets, strengthen strategic customer cooperation and product customization services. In the second half of the year, it is planned to produce 6.85 million tons of ethylene. The main investment projects of refining and chemical are: 01 | Zhenhai Refining and Chemical The Zhenhai Refining and Chemical Expansion Project (Phase II) mainly includes the construction of a new 11 million tons/year refining plant, a 600,000 tons/year propane dehydrogenation plant and downstream processing units. The project will start construction in June 2022 and is scheduled to be delivered in December 2024. On August 30, 2024, the first batch of main and supporting projects of the Zhenhai Base Phase II - aromatics extraction, catalytic gasoline hydrogenation, and pressure tank area - achieved mechanical completion. So far, the overall schedule of the Zhenhai Base Phase II project has been completed by 95%, and the project construction is stable and orderly. The Zhenhai 1.5 million tons/year ethylene and downstream high-end new materials industry cluster project mainly includes the construction of a new 1.5 million tons/year ethylene unit and downstream processing units, as well as supporting public works and auxiliary facilities. The project will start in November 2023 and is scheduled to be delivered in mid-2026. The project is funded by its own funds and bank loans. As of June 30, 2024, a total investment of RMB 2.8 billion has been completed. 02 | Tianjin Base The Tianjin Nangang Ethylene and Downstream High-end New Materials Industry Cluster Project mainly includes the construction of a new 1.2 million tons/year ethylene plant and downstream processing units. The project is a key project of the country's "14th Five-Year Plan" with a total investment of over 30 billion yuan. It will extend its development downstream with a 1.2 million tons/year ethylene plant as the leader, and will build 13 sets of production units such as high-density polyethylene and linear low-density polyethylene. In addition, the 260,000 tons/year polycarbonate (PC) project of Sinopec (Tianjin) Petrochemical Co., Ltd. will be put into commercial operation in Tianjin Nangang Industrial Zone in 2023. This project is another fruitful result of the joint venture between Sinopec and Saudi Basic Industries Corporation (SABIC) after the million-ton ethylene project. It will further meet the growing domestic PC market demand and promote the rapid development of the high-end new materials industry. 03 | Maoming Petrochemical The project mainly includes the construction of a 3 million tons/year catalytic cracking complex, a 1 million tons/year ethylene complex, and supporting public works and auxiliary facilities. The project will start in June 2023 and is scheduled to be delivered in mid-2026. This project is a key project for Maoming Petrochemical to promote new industrialization, promote high-end, intelligent and green manufacturing, and achieve the fourth leap-forward development. After all the units are put into use, the system processing capacity will increase by nearly 100% year-on-year, meeting the circulating cooling water needs of the five production units in operation and the subsequent No. 3 ethylene unit and auxiliary facilities. 04 | Hainan Refining and Chemical On February 21, 2023, Hainan Petrochemical's 1 million tons/year ethylene and refining expansion project successfully completed the entire process, and each unit was successfully started up with one feed. The project is a key engineering project of Hainan Province and Sinopec. It mainly includes a 1 million tons/year ethylene cracking unit and a total of 10 downstream chemical units. During the construction period, it has created jobs for more than 30,000 people, and has driven the establishment of downstream industries such as Hainan Baling New Materials Company and Oak Chemical Company, and promoted Hainan Liansu and other four companies to extend the industrial chain. 05 | Anqing Petrochemical On July 6, 2023, with the 400,000 tons/year ethylbenzene-styrene unit producing qualified products, all units of the Anqing Petrochemical Refinery Conversion Plant Structural Adjustment Project were successfully started up safely and environmentally friendly at one time. The project is led by a 3 million tons/year heavy oil catalytic cracking unit. By increasing the production of light olefins and aromatic raw materials to produce high-value-added chemical products, it effectively enhances the adaptability and flexibility of the company's production structure to changes in demand, and explores a development path for domestic refining companies to cope with overcapacity and achieve transformation and upgrading. Among them, the 3 million tons/year heavy oil catalytic cracking unit is the world's first RTC process heavy oil catalytic cracking unit, and the 400,000 tons/year ethylbenzene-styrene unit is currently the largest dry gas method ethylbenzene unit in China. 06 | Shanghai Petrochemical As China's first 10,000-ton 48K large-tow carbon fiber project, Shanghai Petrochemical's 24,000 tons/year raw fiber and 12,000 tons/year 48K large-tow carbon fiber project. The first domestic production line was put into operation in October 2022 and produced qualified products, marking that Sinopec's large-tow carbon fiber has successfully moved from key technology breakthroughs, industrial trial production, and industrialization to scale and localization of key equipment, breaking the passive situation of my country's carbon fiber production and equipment being controlled by people, and truly realizing independent control. 07 | Baling Petrochemical On December 15, 2023, Line A of Baling Petrochemical's 600,000 tons/year caprolactam industry chain relocation and upgrading transformation and development project was completed and successfully started up at one time, marking the completion and production of the world's largest single-unit caprolactam production and research and development base with leading technology, opening up a new path for the green transformation and development of heavy chemical industry along the river. The project adopts Sinopec's new generation of caprolactam green complete set of new technologies with independent intellectual property rights, and realizes industrial application for the first time. The project construction includes 58 sets of new coal gasification, caprolactam, polyamide, synthetic ammonia, hydrogen peroxide, cyclohexanone and other equipment, covering the entire industrial chain from coal-to-hydrogen to polyamide, with a localization rate of 99.9% of the equipment, including the central control system, which is completely localized. 08 | Kuche Green Hydrogen Demonstration Project On August 30, 2023, the Kuche Green Hydrogen Demonstration Project was fully completed and put into operation. This is the first project in my country to achieve the full industrial chain of 10,000-ton green hydrogen refining and chemical production. It has an annual hydrogen production capacity of 20,000 tons by water electrolysis, a hydrogen storage capacity of 210,000 standard cubic meters, and a hydrogen transmission capacity of 28,000 standard cubic meters per hour. It is the largest photovoltaic power generation direct green hydrogen production demonstration project built using the abundant solar energy resources in western my country. The green hydrogen produced by the project is transported to Tahe Refining and Chemical through pipelines to replace natural gas hydrogen production, which can reduce carbon dioxide emissions by 485,000 tons per year. The project will build new photovoltaic power generation, water electrolysis hydrogen production, green hydrogen storage and transportation equipment, as well as public works and supporting auxiliary production facilities. The major equipment and core materials such as photovoltaic components, electrolyzers, hydrogen storage tanks, hydrogen pipelines, etc. are all domestically produced, which is of great significance to promoting the rapid development of the domestic hydrogen production equipment industry. Source: Jilin City, China Petroleum News, China Petrochemical News, Super Petrochemical, official websites of various companies, China Chemical Information Weekly |
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With a total investment of 27.8 billion yuan, a new million-ton ethylene project was launched. |
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Nov 2024, Hunan Petrochemical Company Profile The company currently has a product chain of oil refining, caprolactam-polyamide, elastomers, epoxy resins, propylene oxide, asphalt-carbon materials, etc. Among them, the primary processing capacity of oil refining is 10 million tons/year, the production capacity of caprolactam is 1 million tons/year (including 400,000 tons of Hengyi in Zhejiang Baling), the production capacity of thermoplastic elastomer is 550,000 tons/year (including 170,000 tons in Hainan Baling), the production capacity of epoxy resin is 120,000 tons/year, and the production capacity of propylene oxide is 100,000 tons/year. There are more than 100 main products. There are 10,804 registered employees and 9,153 employees on the job. In 2023, a total of 9.5 million tons of crude oil will be processed, with an operating income of 75.6 billion yuan and taxes and fees of 11.1 billion yuan. The company attaches great importance to scientific and technological innovation, and has won 27 national awards in total, including 1 first prize in the National Technological Invention Award, 5 first prizes in the National Science and Technology Progress Award, and 1 China Industrial Award. It has more than 640 authorized patents and has been rated as an innovative enterprise of Sinopec. Its production technologies for caprolactam, thermoplastic elastomers, epoxy resins, propylene oxide, etc. are all world-leading, and all have independent intellectual property rights. The company has successively won the honorary titles of the first batch of national first-class enterprises, national civilized units, national May 1st Labor Medal, national advanced grassroots party organization, and national outstanding enterprise for ideological and political work. In the next step, the company will focus on building the development positioning of Hunan Petrochemical as "characteristic, green and outstanding", implement the development strategy of "innovation-driven, value-oriented, green and intelligent, and talent-driven", adhere to the development path with the construction of "1 million tons/year ethylene refining and chemical integration project" as the core, promote the formation of an industrial structure of "clean oil products + modern chemical industry + high-end chemical new materials", and strive to realize the development vision of "building a world-leading green petrochemical new materials innovation base". |
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Sinopec INEOS (Tianjin) Petrochemical Co., Ltd. and manufacturing site have been added. |
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Sinopec Tianjin Branch, Sinopec (Tianjin) Petrochemical Co., Ltd. and Sinopec Group Asset Management Co., Ltd. Tianjin Petrochemical Branch are collectively referred to as Tianjin Petrochemical Company. It is a national super-large refining and chemical integration enterprise affiliated to Sinopec. It was established on December 28, 1983 and is located in Tianjin Binhai New Area. |
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Hengli Petrochemical has been assigned to Hengli Group.
#hengli #petrochemical #dalian #liaoning #pta #polyester |
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Petrochina Daqing Petrochemical has been created and its site's mass balance initialized.
#daqing #petrochina #petrochemical #massbalance #refining #crudeoil #ethylene #steamcracking #heilongjiang |
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Details about crude processing capacity, alkylation and gasoline production added. |
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BEIJING--January 24, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--PetroChina Harbin Petrochemical Company Limited (Harbin, China) will spend more than US$95 million on 23 projects such as plant upgrades, maintenance and revamps. Among the projects is the maintenance turnaround of a 2,000-barrel-per-day benzene extraction unit at the Harbin Refinery. |
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Harbin Petrochemical, a branch of and an entity controlled by Petrochina, was created. #china #harbin #petrochemical #china #petrochina |
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Sinochem Hongrun Petrochemical (Weifang) Co.,Ltd and sites in Qinqzhou and Binhai have been created. |
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HONGRUN PETROCHEMICAL (HK) COMPANY LIMITED has been added. |
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Some productions and consumptions have been added to site. Corresponding technologies need to be identified.
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BLYB, a joint venture between LYB and Jincheng Petrochemical, operates one of China’s largest polyolefin production sites in Panjin, Liaoning, with an annual capacity of 1.1 million tons of ethylene and related products. |
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Bora LyondellBasell Petrochemical Co., Ltd. company and petrochemical site in Panjin have been added. |
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Shandong Jincheng Petrochemical estimated crude oil consumption has been added.
#shandong #jincheng #petrochemical #crudeoil #refining |
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Shandong Jincheng Petrochemical Group and refinery have been added. |
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Shandong Qilu Petrochemical Engineering Co. Ltd ("QPEC"), a Chinese developer of petrochemical technologies, engineering and construction company, has been added. |
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The mass balance of Guangdong Petrochemical has been initialized with identification of crude oil imports and the addition of two technologies: Huanqiu Steam Cracking and Grace's Unipol PP with their respective capacities. |
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Gansu Longchang Petrochemical Group Company Limited (Longchang Petrochemical) has been added. |
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SINOPEC Zhanjiang Dongxing Petrochemical Company Limited |
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SINOPEC SABIC Tianjin Petrochemical Co. Ltd. (SSTPC) has been created.
#sinopec #sabic #jointventure #petrochemicals #china #tianjin |
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Sinopec-SK (Wuhan) Petrochemical Co., Ltd. has been created and parent companies identified. |
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China Petrochemical Technology Company, Ltd. (SINOPEC TECH) has been added. |
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MTO process and productions have been added to site and thus mass balance initialized. |
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Shareholder has been changed to Eastern Shenghong. |
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Jim Ratcliffe, the second richest person in Britain and owner of Manchester United, stated on Bloomberg Television on 18th June: "I'm talking mainland Europe, but I mean, sort of it applies to the UK as well, energy costs are five times the cost of America. Electricity is five times the price of America. It's not 5% or 10% or 50% but 500%." "So anything where any sort of activity which involves using energy in some form or another is disadvantaged in Europe compared to America or the Middle East, obviously. And then on top of that, you've got a carbon tax. So if you emit anything which has got carbon in it, you pay a carbon tax, you don't pay a carbon tax in America. And then on top of that, you've got social costs." "There's not much chemical industry left in the UK, it's pretty much finished really. Unfortunately, I don't think the government ever really recognize the importance of that. It's an enormous industry worldwide, but if you look at petrochemicals in Europe it's about the same size as automotive. It's a really big industry." "Places like America are in a great place for manufacturing because, you know, they've got cheap energy, they've got no carbon taxes. They've got a government which is very interested in social costs, which are very manageable." |
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Aramco, one of the world’s leading integrated energy and chemicals companies, has entered into discussions with Hengli Group Co., Ltd. (“Hengli Group”) regarding the potential acquisition of a 10% stake in Hengli Petrochemical Co., Ltd. (“Hengli Petrochemical”), subject to due diligence and required regulatory clearances. The companies signed a Memorandum of Understanding (MoU) regarding the proposed transaction, which aligns with Aramco’s strategy to expand its downstream presence in key high-value markets, advance its liquids-to-chemicals program, and secure long-term crude oil supply agreements. Hengli Petrochemical, a controlled subsidiary of Hengli Group, owns and operates a 400,000 barrel per day refinery and integrated chemicals complex in Liaoning Province, China, and several plants and production facilities in Jiangsu and Guangdong Provinces. Source: SAUDI ARAMCO NEWS | DHAHRAN, SAUDI ARABIA | APRIL 22, 2024 |