"Twelfth Five-Year Plan" China Will Make Structural Adjustment to Petrochemical Industry

On September 8th, the head of China’s project network to be built said in an interview with reporters that during the “Twelfth Five-Year Plan” period, China will carry out structural adjustments to the petrochemical industry and plan to form a number of 20 million-tonne refinery production bases by 2015. The average size of refineries in the country should exceed 6 million tons/year, the average size of ethanol plants should reach 600,000 tons/year or more, the proportion of sales revenue of the top 100 oil and chemical companies in the country should increase to one-third, and sales revenue must Enterprises with 100 billion yuan must reach 10 or more.
The structural adjustment also includes improving the environmental quality of oil products, the proportion of diesel oil and gasoline tends to be reasonable, and the proportion of special materials for downstream ethylene products has increased. Diversified ethylene raw materials, the proportion of coal, heavy oil to olefins increased to more than 20%, the proportion of natural gas nitrogen fertilizer has declined, the utilization efficiency of low-grade coal resources and low-grade ore has been further improved, and the proportion of salt brine used in salt chemical raw materials reached over 80%. The proportion of ethylene raw material in PVC has been further increased.
The person in charge said that China has formed 17 million-ton-grade oil refining bases, and that crude oil processing capacity of 10 million tons/year or more of the refinery is close to half of the total processing capacity of the country. Among the 17 bases, the refining capacity of Dalian Petrochemical and Zhenhai Refinery reached 20 million tons per year. By 2011, China will also build three 30-million-ton oil refining bases in Nanjing, Ningbo, and Shanghai, and six 20-million-ton oil refining bases in Maoming, Huizhou, Guangzhou, Quanzhou, Tianjin, and Caofeidian.

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