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Shaanxi Province releases the \"2020 Provincial Key Project Plan\" for the coal chemical industry / Source: Yahuacool Chemical Industry Date: 2020-03-13 Clicks: 165 In March 2020, the Shaanxi Provincial Development and Reform Commission announced the \"Shaanxi Province 2020 Provincial Key Project Plan\". Among them, there are 312 projects under continuation, 188 new projects that have started construction, and 100 projects in the preliminary stage. Research by Yaha Consulting shows that the \"Shaanxi Province’s 2020 Provincial Key Project Plan\" includes three categories of projects: first, projects that are continuing from previous phases; second, new projects that are set to begin; and third, projects in the preliminary stage. The early-stage projects include three coal-to-olefins projects, two coal-to-oil projects, and one combined coal-to-aromatics and olefins project, with a total investment of 247.1 billion yuan. Yahua Consulting believes that despite international oil prices falling to around $30 per barrel, against the backdrop of excess coal production capacity and the rise of new energy sources, coal chemical industry still plays an important role in utilizing that coal capacity, ensuring energy security, and producing high-value oils and chemicals. Research by Yahuaxing Consulting shows that coal chemical enterprises with their own coal resources, especially those located in regions with low coal costs such as Shaanxi and Inner Mongolia, can withstand international oil prices below $60 per barrel. As for how low it can go, it depends on factors such as the market supply and demand as well as prices of downstream products, as well as the operating rate of the facilities.