Are several coal liquefaction plants profitable at present?

This is quite unfair; the market is the same in all cases. In fact, the market is even more demanding on those who enter later, because everyone is already accustomed to conventional energy sources, and what is familiar is naturally considered acceptable. The coal liquefaction enterprises mentioned by the original poster may have been built several years ago, but they are still in their infancy compared to conventional energy sources that have been developed for hundreds of years; it’s like comparing a child to an adult – there’s no way to compare them. Although profitability is fundamental and of top priority for enterprises, if the goals or scope for profitability are set more broadly, coal-to-oil, olefin, or gas-related companies can still be profitable. This is why, even though individual such companies generally do not turn a profit, there are still so many companies that decide to invest in factories using new processes like coal-to-oil.

Aren’t the oil refining companies also saying they are losing money? But if they include upstream oil extraction and downstream distribution, they can make much more money. The coal-to-oil or olefins or gas industry is similar in nature to the refining industry.

Luan is currently losing money; Yitai should be able to turn a profit, but the amount isn’t very large. Shenhua’s direct liquefaction project is still in the experimental phase and does not generate profits at the moment. I heard that a new coal indirect liquefaction project is planned to be established in Ningxia.

The total capacity under construction now amounts to 15 million tons