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Setting up of large scale ethylene plants in the pipeline
Apr '09
According to Deputy Chief Engineer from State Petroleum Planning and Engineering Institute, Zhang Fuqin, domestic oil consumption in 2009 will reach 214 million tons, a year-on-year increase of only 2-3 percent, well below the 10 percent growth recorded in 2008;

At the same time, domestic new capacity of finished petroleum products will be much higher than the increase in demand, due to which operational rate of oil refining enterprises in 2009 will start to show a clear downward trend.

She said, in 2008, China accounted for 7 percent of the worldwide refining capacity, second only to the United States and out of the 655 total global refineries; China had 53 of them accounting for 8 percent of all refineries.

She added by saying that, China plans to build 18 refineries with a capacity of million tons per year in the future and with this new addition, oil refining capacity will reach nearly 300 million tons.

This includes nearly 150 million tons of sour crude oil processing capacity. At the same time, the state will build 12 large-scale ethylene plants and total ethylene capacity will reach 1, 200 million tons per year.

And Sinopec China's largest petrochemical refinery will be modified and will also build 13 new projects in total and she expected that Sinopec's refining capacity would reach 328 million tons after 2015.

As for CNOOC, refining capacity of Huizhou refinery will expand to 20 million tons in 2011 and aims to scale it up to 40 million tons per year and capacity of Daxie Petrochemical will touch 10 million tons in 2013.

Fibre2fashion News Desk - China

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