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Hengyi Petrochemical is making steady progress in the construction of the second phase of the Hengyi Brunei refinery project. February 6, 2025 – On February 6, China and Brunei issued a Joint Statement on Deepening Strategic Partnership and Promoting the Building of a Community with a Shared Future for China and Brunei. The Statement states that both parties are satisfied with the successful implementation of the first phase of Hengyi Petrochemical’s project, and will guide the company to advance the second phase as soon as possible in accordance with commercial principles and market-based approaches. Hengyi Petrochemical stated that the first phase of the Hengyi Brunei refining and petrochemical project incorporated the world’s largest single-unit aromatic hydrocarbon processing unit at that time, as well as the sixth flexible coking unit in the world. These units enable lower production costs per unit of product, are more environmentally friendly, and offer significant advantages due to their advanced design. At present, the first phase of the Hengyi Brunei Refining and Chemicals project is operating at full capacity, while all work on the second phase is progressing in an orderly manner. In October 2024, the Hengyi Brunei Sustainable Integration of Natural and Renewable Energy Project was launched. It not only meets the energy needs of the Hengyi Brunei petroleum refining plant but also helps Brunei transition to a cleaner energy system, significantly reducing carbon emissions and thereby enabling green, low-carbon, and sustainable high-quality development. Public information shows that as of now, the Hengyi Brunei refining project has a designed refining capacity of 8 million tons; of this, the designed capacity for refined products such as gasoline, diesel, and aviation kerosene is 5.65 million tons, while the designed capacity for chemical products such as PX and benzene is 2.65 million tons. In 2023, a direct shipping route was established between Port Mora in Brunei and Qinzhou Port in Guangxi. The first phase of Hengyi Petrochemical’s integrated production project for 1.2 million tons of caprolactam and polyamides is being carried out in an orderly manner, and once it comes online, it will benefit from this direct shipping route. After years of rapid development, the Hengyi Brunei Refining and Petrochemical Project has become a successful example of actively responding to the Belt and Road Initiative and aligning with Brunei’s \"Vision 2035\" strategy. It has created numerous job opportunities in the local area, brought in advanced technologies, and contributed to the digital transformation of the local industry. Hengyi Petrochemical stated that looking to the future, the company will leverage Brunei’s abundant oil and gas resources, and with strong policy support, actively participate in the construction of projects under the Belt and Road Initiative, thereby contributing to the realization of Brunei’s \"2035 Vision\" as well as to the further deepening of economic and trade cooperation between the two countries.