[Chemical Industry News] Planned crude oil import volumes for several private refineries in 2016
Thread Content
This post was last edited by Xiao Gong 1985 on 2016-3-29 08:32. To encourage greater private investment in the energy sector, China began issuing import licenses to independent refineries (also known as “teapot” refineries) in 2015. Although the production capacity of these independent refineries accounts for almost one-third of the country’s total refining capacity, **only state-owned enterprises such as CNPC and Sinopec were previously allowed to import crude oil from abroad. Therefore, the “Teapot” refinery has to reprocess fuel oil or import crude oil from competitors. According to investigations, these refineries imported at least 1.1 million barrels of crude oil per day this year. ICIS China stated that in 2016, China’s daily crude oil imports would reach 7.4 million barrels, exceeding the United States’ daily import volume of 7.26 million barrels. Below are the detailed plans for large companies and factories in 2016: Shen Fan, deputy general manager of Shandong Dongming Petrochemical Group and Shandong Dongming Petrochemical Pacific Commercial Holding Co., Ltd., said that Shandong Dongming Petrochemical Group is the largest refinery of its kind, and it plans to meet an annual crude oil import quota of 7.5 million tons in 2016, which would correspond to a daily import volume of 150,000 barrels – exceeding last year’s total imports by over 87.5%. The group owns two refineries; the one located in Heze, Shandong Province, has a processing capacity of 180,000 barrels per day, while the refinery in Lianyungang City, Jiangsu Province, has a processing capacity of 60,000 barrels per day. This year, plans are to import crude oil from various countries, which will then be transported via pipelines to the Heze refinery using super tankers at the Rizhao Port.
The deputy general manager of Panjin Northern Asphalt Co., Ltd. said that the company plans to make full use of its quota to import 7 million tons of crude oil in 2016; last year, the import volume was 3 million tons. The group will import heavy oil to maximize asphalt production, with a daily refining capacity of 170,700 barrels, sourcing the material from giant tankers at the Dalian port. Baota Petrochemical Group: This group planned to import 6.1 million tons of crude oil in 2016, with a daily production volume of 150,600 barrels; it made full use of its import quotas, and the import volume last year was 2 million tons. The factory is located in the northwest of Ningxia Province; to save on transportation time, goods will be imported from Russia and Central Asia. Shandong Jingbo Holding Co., Ltd. An anonymous employee of the company said that it plans to import around 3 million tons of crude oil from abroad in 2016; no imports were made from overseas last year. This year, heavy oil will be imported via ships with a capacity of 100,000 tons, transported to Longkou Port and Huangdao Port, and then delivered to refineries by truck.
A representative from Sinochem Hongrun Petrochemical Co., Ltd. said that the company plans to import 5.3 million tons of crude oil this year, using up its entire quota – a figure that far exceeds the import volume in 2015. Located in Weifang, the company is capable of processing various types of crude oil, with a daily refining capacity of 115,000 barrels; this year it will begin receiving shipments from giant cruise ships at Qingdao Port. Shandong Kenli Petrochemical Group and Shandong Huifeng Petrochemical Group: Shandong Kenli Petrochemical Group has a daily processing capacity of 60,200 barrels; it plans to import 2.52 million tons of crude oil in 2016, compared to less than 1 million barrels imported last year. The group is capable of processing both heavy and light crude oils. Shandong Huifeng Petrochemical Group has a daily processing capacity of 1.165 million barrels, and plans to import 4.1 million tons of crude oil in 2016; last year it imported 500,000 tons.
:Lol, these companies are so rich
Other companies may not know this, but that factory in Panjin still relies on **; it isn’t as strong as we thought it was.
Conditional; last year, there was a requirement to replace production capacity
Why aren’t Tianhong, Yatong, and Shouguang Alliance included? There are still many local refining plants in Shandong
These factories might still need to purchase quotas, or fuel oil and other substances that are not crude oil
It seems that Comrade Lao Yu isn’t very well-informed either:lol:lol
At the current price of around $30, imports are encouraged while domestic production is reduced.