Sinopec Lianyungang 30-million-ton oil refining project
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The 32 million-ton oil refining and 1 million-ton PX project at Sinopec’s Lianyungang facility in Jiangsu is advancing rapidly. Below is a report from China Daily: http://www.chinadaily.com.cn/bizchina/2011-06/18/content_12728079.htm
It’s the largest in the country; PX supports downstream PTA, right? Hehe
Following blindly? In fact, the total refining capacity across the country is already saturated.
Does anyone have more information? When will the recruitment start?
I don’t think it’s very reliable. First of all, where will the crude oil come from? 30 million tons!
To support the implementation of the refining and chemical integration project, Sinopec will also build a crude oil storage facility with a capacity of 5 million cubic meters and an LNG receiving station with a capacity of 5 million tons in Lianyungang, and construct the Lianyungang-Donghai crude oil pipeline
Blind expansion, rapid growth! Identification complete!
Why are there so many large refineries being built, costing 20 million or 30 million each? Is China’s shortage of refining capacity really that severe? I’m very skeptical; unless **’s idea is to build large refineries and close smaller ones in order to integrate resources
If no suitable joint venture partner capable of providing oil supply can be found, and Sinopec has to carry out the project on its own, then there’s no way this project will succeed
Sinopec’s strength is still highly trustworthy