Yueyang ethylene refining and refining integration and refining supporting transformation project approved
86,012 
September 19, 2023, 2:36 PM
Sinopec and Hunan Province have made new and significant progress in deepening strategic cooperation. On September 16th, the Development and Reform Commission of Hunan Province issued an approval document to Sinopec Hunan Petrochemical Co., Ltd. (Hunan Petrochemical), and the 1 million t / an ethylene refining and petrochemical integration and supporting transformation project in Yueyang area was officially approved.
The total investment of the project is 35.68 billion yuan, of which 1 million tons / year ethylene refining and chemical integration part invests 31.08 billion yuan, and oil refining supporting transformation part invests 4.6 billion yuan.
The reply is clear and it is agreed to build 100 in Yueyang area of Sinopec according to the relevant national planning and layout. Ten thousand tons / year ethylene refining and chemical integration and oil refining supporting transformation project, the project construction unit is Sinopec Hunan Petrochemical Co., Ltd. (Hunan Petrochemical). Among them, the integration of ethylene refining and chemical industry includes 14 sets of chemical plants, such as 1 million tons / year ethylene and 500000 tons / year cracking gasoline hydrogenation, as well as supporting public works. The project is located in Hunan Yueyang Green Chemical High-tech Industry Development Zone. The matching revamping part of the oil refining includes the construction of a 3 million t / a hydrocracking unit, a 60 kt / a sulfur recovery unit, a 1 million t / a solvent deasphalting unit, and a supporting utility to transform the No.2 atmospheric and vacuum distillation unit to 10 million t / a. And phase out the original Changling Refining and Petrochemical and the original Baling Petrochemical each set of 3.5 million t / a refining units.
The approval requires the project to further optimize the process and technology plan in accordance with the principle of "reducing oil and increasing chemical", strengthen the mutual supply of materials between the project and the related enterprises in the chemical park, and promote the coordinated and complementary development of the industry. In principle, autonomous technical equipment, industrial software and control system should be selected to improve the level of device autonomy. It is necessary to increase investment in innovation and develop and produce China's shortage products in accordance with the thinking of high-end and differentiation.
It is reported that at the beginning of 2021, Baling Petrochemical and Changling Refining and Chemical Industry put forward the plan of "promoting development through reform, promoting reform through development, and accelerating the integrated development of ethylene refining and chemical industry in Yueyang area". Subsequently, Hunan Province and Sinopec reached a high consensus to fully support the ethylene refining and chemical integration project in Yueyang area. In October 2021, the preparation of the project feasibility study report was started. In July 2022, Sinopec approved the feasibility study report of the project. In October of the same year, the National Development and Reform Commission and the Ministry of Industry and Information Technology replied to Hunan Province and Sinopec, agreeing to include the project in the national "Petrochemical Industry Planning and layout Plan" reserve project. Recently, the National Development and Reform Commission replied and agreed to change the project from a reserve project to a planned project.
As China's refined oil consumption has entered a platform or declined steadily, the supply-side structure of oil refining is facing adjustment. "reducing oil and increasing chemical" has become an important direction of structural adjustment of oil refining products, and refining and chemical enterprises all over the country have arranged ethylene projects at the level of one million tons. Since the beginning of this year, several million-ton ethylene projects have been signed, started or approved.
In March, CSC Huizhou Phase III ethylene project signed a preliminary investment agreement, with a total investment of about 52.1 billion yuan, with a total of 18 chemical plants planned to build 1.6 million tons / year ethylene cracking plant and its downstream.
In May, Sinopec Luoyang million tons of ethylene project and green petrochemical advanced materials industry base started.
At the end of July, the PetroChina Guangxi Petrochemical Integration Transformation and upgrading Project officially entered the stage of large-scale and rapid construction. The core unit of the project, the 1.2 million t / an ethylene plant, was started in Qinzhou Port.
In August, Dushanzi Petrochemical Company held a construction promotion meeting for the second phase of ethylene project in Tarim 1.2 million tons / year, which opened the pace of marching into a "chemical aircraft carrier" with an annual ethylene production capacity of more than 3 million tons. Source: Sinochem New Network
The total investment of the project is 35.68 billion yuan, of which 1 million tons / year ethylene refining and chemical integration part invests 31.08 billion yuan, and oil refining supporting transformation part invests 4.6 billion yuan.
The reply is clear and it is agreed to build 100 in Yueyang area of Sinopec according to the relevant national planning and layout. Ten thousand tons / year ethylene refining and chemical integration and oil refining supporting transformation project, the project construction unit is Sinopec Hunan Petrochemical Co., Ltd. (Hunan Petrochemical). Among them, the integration of ethylene refining and chemical industry includes 14 sets of chemical plants, such as 1 million tons / year ethylene and 500000 tons / year cracking gasoline hydrogenation, as well as supporting public works. The project is located in Hunan Yueyang Green Chemical High-tech Industry Development Zone. The matching revamping part of the oil refining includes the construction of a 3 million t / a hydrocracking unit, a 60 kt / a sulfur recovery unit, a 1 million t / a solvent deasphalting unit, and a supporting utility to transform the No.2 atmospheric and vacuum distillation unit to 10 million t / a. And phase out the original Changling Refining and Petrochemical and the original Baling Petrochemical each set of 3.5 million t / a refining units.
The approval requires the project to further optimize the process and technology plan in accordance with the principle of "reducing oil and increasing chemical", strengthen the mutual supply of materials between the project and the related enterprises in the chemical park, and promote the coordinated and complementary development of the industry. In principle, autonomous technical equipment, industrial software and control system should be selected to improve the level of device autonomy. It is necessary to increase investment in innovation and develop and produce China's shortage products in accordance with the thinking of high-end and differentiation.
It is reported that at the beginning of 2021, Baling Petrochemical and Changling Refining and Chemical Industry put forward the plan of "promoting development through reform, promoting reform through development, and accelerating the integrated development of ethylene refining and chemical industry in Yueyang area". Subsequently, Hunan Province and Sinopec reached a high consensus to fully support the ethylene refining and chemical integration project in Yueyang area. In October 2021, the preparation of the project feasibility study report was started. In July 2022, Sinopec approved the feasibility study report of the project. In October of the same year, the National Development and Reform Commission and the Ministry of Industry and Information Technology replied to Hunan Province and Sinopec, agreeing to include the project in the national "Petrochemical Industry Planning and layout Plan" reserve project. Recently, the National Development and Reform Commission replied and agreed to change the project from a reserve project to a planned project.
As China's refined oil consumption has entered a platform or declined steadily, the supply-side structure of oil refining is facing adjustment. "reducing oil and increasing chemical" has become an important direction of structural adjustment of oil refining products, and refining and chemical enterprises all over the country have arranged ethylene projects at the level of one million tons. Since the beginning of this year, several million-ton ethylene projects have been signed, started or approved.
In March, CSC Huizhou Phase III ethylene project signed a preliminary investment agreement, with a total investment of about 52.1 billion yuan, with a total of 18 chemical plants planned to build 1.6 million tons / year ethylene cracking plant and its downstream.
In May, Sinopec Luoyang million tons of ethylene project and green petrochemical advanced materials industry base started.
At the end of July, the PetroChina Guangxi Petrochemical Integration Transformation and upgrading Project officially entered the stage of large-scale and rapid construction. The core unit of the project, the 1.2 million t / an ethylene plant, was started in Qinzhou Port.
In August, Dushanzi Petrochemical Company held a construction promotion meeting for the second phase of ethylene project in Tarim 1.2 million tons / year, which opened the pace of marching into a "chemical aircraft carrier" with an annual ethylene production capacity of more than 3 million tons. Source: Sinochem New Network