Inspectioneering
News

PetroChina Starts $5.3 Billion Unit Revamp to Boost Petchem Output, Cut Fuel

Reuters, February 14, 2022
Reuters

PetroChina has started a 33.9 billion yuan ($5.33 billion) program to expand the petrochemical capacity at a subsidiary plant in northeast China and cut refined fuel production, according to a company post and state media report.

The state oil and gas major's move is in line with a trend within the Chinese industry to reduce fossil fuel output as demand is set to peak, while raising production of higher-value petrochemicals that are imported by the Asian country.

Under the revamp, PetroChina's Jilin Petrochemical Corp plans to add 21 more facilities - including a 1.2-million-tonnes-per-year (tpy) ethylene unit - and mothball seven units, parent company CNPC said on Wednesday, without providing further details.

The new facilities will also include a 600,000-tpy unit to manufacture acrylonitrile butadiene styrene (ABS), an impact-resistant plastic, local state newspaper Jilin Daily reported, without citing details on project completion.

After the revamp, the Jilin province-based subsidiary will produce 2.63 million tonnes less of refined fuel a year but 2.8 million tonnes more of petrochemicals.

($1 = 6.3608 yuan)


(Reporting by Chen Aizhu; Editing by Sherry Jacob-Phillips)

Click here to read the full article from Reuters.

Copyright 2024 Thomson Reuters. Click for restrictions.

Comments and Discussion

There are no comments yet.

Add a Comment

Please log in or register to participate in comments and discussions.


Inspectioneering Journal

Explore over 20 years of articles written by our team of subject matter experts.

Company Directory

Find relevant products, services, and technologies.

Training Solutions

Improve your skills in key mechanical integrity subjects.

Case Studies

Learn from the experience of others in the industry.

Integripedia

Inspectioneering's index of mechanical integrity topics – built by you.

Industry News

Stay up-to-date with the latest inspection and asset integrity management news.

Blog

Read short articles and insights authored by industry experts.

Expert Interviews

Inspectioneering's archive of interviews with industry subject matter experts.

Event Calendar

Find upcoming conferences, training sessions, online events, and more.

Downloads

Downloadable eBooks, Asset Intelligence Reports, checklists, white papers, and more.

Videos & Webinars

Watch educational and informative videos directly related to your profession.

Acronyms

Commonly used asset integrity management and inspection acronyms.