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Work starts on Fujian oil refinery,
ethylene cracker
FUZHOU - Work
on the Fujian oil refinery and ethylene joint
venture project, the largest of its kind in China,
has commenced in Quanzhou, a port city located in
East China's Fujian Province.
The project
is being jointly built by the Fujian Refinery and
Chemical Co Ltd, Exxon Mobil (China) Petrochemical
Co Ltd, and Saudi Arabian Overseas Oil Company.
The world-standard petrochemical integral project
is scheduled for completion and production in
2008.
Upon completion, the Fujian Refinery
and Chemical Co Ltd, a 50%-50% joint venture
between Sinopec and Fujian Provincial Petroleum
and Chemical Industry Co Ltd with an annual oil
refining capacity of four million tons, will add
eight million tons of oil refining capacity,
bringing the total up to 12 million tons. With
crude oil supplied by Saudi Arabian Oil Company,
the project will be capable of refining
sulfur-bearing crude.
Meanwhile, the
project will build an 800,000-ton ethylene
cracking device, a 650,000-ton polyethylene
device, a 400,000-ton polypropylene device, and a
one million-ton arene device. In addition, it will
also build a 300,000-ton crude oil wharf and other
supporting public facilities.
Sinopec,
Exxon Mobil (China) Petrochemical Co Ltd and Saudi
Arabian Overseas Oil Company are making
preparations for setting up an oil product
marketing joint venture in Fujian Province, which
will mainly market the oil products produced by
the refinery and ethylene integrated joint
venture.
Building of the refinery and
ethylene integrated project indicates that one
more large petrochemical base is rising rapidly in
southeastern Fujian Province of China, after Qilu
Petrochemical, Yanshan Petrochemical, Shanghai
Petrochemical, Jinling Petrochemical and Yangzi
Petrochemical.
As the largest investment
project in Fujian, the project is expected to
bolster the development of middle- and down-stream
petrochemical, resin, plastic, new-type materials,
light industry, textile, electronics, automobile
and food industries in the province.
(Asia
Pulse/XIC) |
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