The petrochemical revitalization plan is released and 9 major refining bases will be built in the next three years.

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The petrochemical revitalization plan is released and nine major refining bases will be built in the next three years2009-02-25 02:06:00Core Tips: The petrochemical revitalization plan has finally been released. It is reported that three 30-million-ton super-large refining bases in Shanghai, Ningbo and Nanjing have been included in the plan of the Energy Bureau of the National Development and Reform Commission. As a result, in the next three years, nine major oil refining bases will appear along the coast of China, waiting for imported crude oil from the sea. 　　People's Daily Online reported on February 25 that the petrochemical revitalization plan was finally released, and the much-watched oil refining sector received a note to "actively promote projects under construction." 　　“The revitalization plan is mainly led by the Industrial Coordination Department of the National Development and Reform Commission, while another relevant department, the Energy Bureau, has other plans for oil refining. ”On February 24, a senior official from the China Petroleum and Chemical Industry Association told this reporter. 　　It is reported that three 30-million-ton super-large refining bases in Shanghai, Ningbo and Nanjing have been included in the plan of the Energy Bureau of the National Development and Reform Commission. As a result, in the next three years, nine major oil refining bases will appear along the coast of China, waiting for imported crude oil from the sea. 　　In the Energy Bureau’s oil and gas plan for the next three years, the construction of a large-scale oil refining base consists of three parts:: Accelerate the construction of renovation and expansion projects of Zhenhai, Maoming and other refineries ； Implement construction conditions and start construction of large-scale oil refining projects in Sichuan, Guangzhou, Quanzhou, Shanghai, etc. ； Actively promote large-scale oil refining projects jointly constructed in my country by companies from Venezuela, Qatar, Russia and other countries providing crude oil resources. 　　Eventually, "large-scale oil refining bases with annual scales exceeding 30 million tons in Ningbo, Shanghai, and Nanjing, and Maoming, Guangzhou, Huizhou, Quanzhou, Tianjin, and Caofeidian with annual scales exceeding 20 million tons will gradually form." 　　However, under the risk of economic downturn, the centralized launch of large-scale oil refining projects can certainly boost domestic demand, but it also faces the challenge of declining demand for oil products. 　　Three major bases gathered in the Yangtze River Delta. “Around this year, we have been worried that due to the impact of the financial crisis, some projects under construction may be suspended. However, the plan of the Energy Bureau of the National Development and Reform Commission is quite high-profile. Three 30-million-ton oil refining bases were mentioned at once, and some projects that had not been finalized in the past were clarified in a very positive manner. ”A researcher from Yimao Information told this reporter. 　　Regarding the 30 million tons refining base project, there have been obvious signs that Zhenhai Refining and Chemical is the project. 　　In May 2008, Zhenhai Refining and Chemical, the largest domestic oil refining company located in Ningbo, disclosed that Sinopec headquarters decided to increase Zhenhai Refining's crude oil processing capacity from 20 million tons to 23 million tons by September 2009. At that time, some people in the industry speculated that Zhenhai Refining’s next goal is to exceed 30 million tons per year. 　　As for the situation in Shanghai and Nanjing, an industry insider analyzed this newspaper and said, “The oil refining base does not necessarily have only one oil refining project, it is very likely that several projects will jointly form a production capacity of 30 million tons. ” 　　On October 11, 2008, Sinopec Group and Shanghai Municipal Government * * One of the contents of the signing of the cooperation framework agreement is to strengthen cooperation on an integrated refining project in the Shanghai Chemical Industry Zone. The scale of the project and the approval status of the National Development and Reform Commission have not been disclosed to the outside world. 　　“This project should be different from Shanghai Petrochemical and Gaoqiao Petrochemical. In this project, Shanghai * * has a higher say than the first two projects. ”Zhong Jian of Oriental Oil and Gas Network told this newspaper. 　　Sinopec’s new project in the Shanghai Chemical Industry Zone will be the main source of new energy refining in Shanghai. “The capacity of large-scale oil refining projects is over 10 million tons. Adding in the production capacity of Shanxi Petrochemical and Gaoqiao Petrochemical, Shanghai's entire refining capacity may be close to 40 million tons per year. ”The above-mentioned people analyzed this newspaper. 　　Nanjing's inclusion in the 30-million-ton refining base is somewhat unexpected. Jinling Petrochemical's crude oil processing capacity reached 10.73 million tons in 2007, becoming the first 10-million-ton refining production base along the Yangtze River. Another local refining and chemical company, Yangzi Petrochemical, has a production capacity of only about 10 million tons. Where the other 10 million tons will come from is unclear. 　　The winner, Sinopec, has the biggest gains in the southeastern coast of China in terms of the construction plan for refining bases in the next three years issued by the Energy Bureau. Data provided by Yimao Information shows that previously, energy refining along the southeast coast accounted for less than 50% of the country’s energy refining. 　　“When it comes to refining projects, coastal cities are increasingly getting * * On the one hand, most of China's new crude oil in the future will rely on imported crude oil; on the other hand, the southeastern coastal areas are also areas with a large demand for refined oil. ”Analysis by Yimao Information researchers. 　　At present, China's oil dependence on foreign countries is close to 51%. According to predictions from the Ministry of Land and Resources, if exploration is not strengthened and the economic development model is not transformed, China's dependence on foreign oil will rise to 60% by 2020. 　　According to figures provided by the China Petroleum and Chemical Industry Association, in 2008, China produced nearly 190 million tons of crude oil, an increase of 2.3% year-on-year. During the same period, China imported 179 million tons of crude oil, an increase of 9.6% over the previous year. 　　Sinopec is the biggest beneficiary of China's refining layout adjustment. “The southeastern coast involved in this plan originally belonged to Sinopec's traditional sphere of influence, so this result is not unexpected. ”Analysis by the above-mentioned people. 　　The projects mentioned in the single item except Sichuan and Huizhou belong to PetroChina and CNOOC respectively, the Guangzhou, Shanghai, Ningbo, Nanjing, and Maoming projects all belong to Sinopec, and the three projects in Quanzhou, Tianjin, and Caofeidian are also likely to eventually be settled by Sinopec. 　　On the other side of capacity expansion, however, for Sinopec, the start of multiple refining and chemical projects will also mean a higher debt ratio. 　　Zhang Guobao, director of the Energy Bureau, wrote in January that “Sinopec’s asset-liability ratio is over 60%, cash flow is very tight, banks are reluctant to lend, and there is no follow-up funds to complete new investment plans in the next step. ” 　　Without huge financial subsidies, Sinopec would have suffered its first loss since its listing in the first half of 2008. According to its semi-annual report, in the first half of 2008, its refining segment suffered a huge loss of 46 billion. 　　Sinopec's financial pressure also comes from its upstream expansion plans. Recently, Sinopec, which wants to strengthen its upstream resources, has frequently participated in acquisition negotiations for international oil and gas resources. 　　In February 2009 alone, it was reported that Sinopec was seizing the opportunity to acquire a 20% stake in the European oil and gas giant Repsol YPF held by Spain's Savi Real Estate Group, and that Sinopec might spend US$130 million to acquire Urals Energy, a medium-sized Russian oil company. Repsol YPF is a world-wide integrated oil, gas and chemical company, ranking eighth in the world. 　　For the entire refining industry, the expansion of production capacity also has hidden worries. 　　“Under such an economic situation, expanding demand is more important than increasing production capacity. Instead of strengthening the construction of oil refining projects to stimulate domestic demand, it is better to increase support for small and medium-sized enterprises and directly increase market demand. ”Han Xiaoping, CEO of China Energy Network, told this reporter.