On the evening of April 5, the performance announcement released by Hengli Petrochemical shocked the refining and chemical circles. In 2020, Hengli Petrochemical’s performance reached a new high, achieving operating income of 152.397 billion yuan, a year-on-year increase of 51.21%; net profit attributable to shareholders of listed companies was 13.462 billion yuan, a year-on-year increase of 34.29%. The competitiveness of large-scale refining and chemical integration is highlighted. In addition to Hengli, which other refining and chemical companies are worthy of attention?
01 Dalian Hengli Petrochemical
Hengli Group was founded in In 1994, based on its main business and adhering to industry, it became an international enterprise developing the entire industry chain of oil refining, petrochemicals, polyester new materials and textiles. The group now owns one of the PTA factories with the largest production capacity in the world, one of the largest functional fiber production bases and weaving enterprises in the world, with more than 100,000 employees, and a national “Enterprise Technology Center”. Its corporate competitiveness and product brand value rank among At the forefront of the international industry. As the first domestic modern refinery with a capacity of more than 20 million tons built at one time, Hengli Refining and Chemical has internationally leading and domestic first-class process technology and equipment processing scale. It has excellent and complete industrial supporting capabilities that are difficult to replicate in China and is industry-leading. The comprehensive competitive advantage is outstanding and has become the main source of the company’s current profit structure and the main driving force for performance growth. In 2020, after the Hengli Refining and Chemical Project was put into operation last year, this year will also be the second big year for Hengli Petrochemical to promote the production capacity of the entire industry chain and a critical period to achieve the improvement of the entire industry chain. A snapshot of Dalian Hengli Petrochemical’s refining and chemical integration project. Basically all the raw materials for the company’s ethylene project are supplied by the upstream 20 million tons refinery. The ethylene unit is the largest in the world, and the ethylene yield of 48% is the highest in the country. It maximizes the integration of refining and chemicals. With its scale integration advantages, it produces various high-end chemicals that are in short supply in the country (including 1.8 million tons of ethylene glycol, 720,000 tons of styrene, 423,000 tons of polypropylene, 400,000 tons of high-density polyethylene, 140,000 tons of butyl Dienes, etc.) will greatly enhance the integrated deep processing capabilities and product added value of Hengli Refinery.
02 Zhejiang Petrochemical
Zhejiang Petrochemical Co., Ltd. 40 million tons /year refining and chemical integration project is located in Zhoushan Green Petrochemical Base, Zhejiang Province. It is one of the major projects in the construction of China (Zhejiang) Free Trade Pilot Zone. A joint-stock enterprise jointly funded by Rongsheng Petrochemical, Zhejiang Juhua, Zhejiang Tongkun and Zhoushan Marine Comprehensive Development Investment Co., Ltd. The registered capital of this project is 23.8 billion yuan, with a total investment of 173 billion yuan. The project is divided into two phases of construction. Each phase has an annual processing capacity of 20 million tons of crude oil and an annual output of 5.2 million tons of aromatics and 1.4 million tons of ethylene. On December 30, 2019, Rongsheng Petrochemical announced that the 40 million tons/year integrated refining and chemical project (Phase I) was fully put into operation. Rongsheng Petrochemical announced that the “40 million tons/year refining and chemical integration project (Phase I)” invested and constructed in Zhoushan Green Petrochemical Base by the company’s controlled subsidiary Zhejiang Petrochemical Co., Ltd. (hereinafter referred to as “Zhejiang Petrochemical”) has been completed in 2019 The first batch of devices (atmospheric and vacuum pressure and related public engineering devices, etc.) will be put into operation in May. The commissioning of this project will, on the one hand, help the company build an integrated industrial chain of “crude oil – aromatics (PX), olefins – PTA, MEG – polyester – spinning – texturing”, achieve high-quality and efficient large-scale production, and reduce costs. Product costs will further enhance the company’s profitability, improve the company’s overall strength and risk resistance, and achieve leapfrog development; on the other hand, it will improve my country’s voice in the aromatics and ethylene industry to a certain extent, and drive the development of mid- and downstream chemical products. production, processing and sales to achieve the company’s economic and social benefits.
03 Shenghong Refining and Chemical
Shenghong Group is a is a large enterprise group founded in 1992 and headquartered in Shengze, Wujiang, Jiangsu Province. On December 14, 2018, Shenghong’s 16 million tons/year refining and chemical integration project officially started construction. The project will introduce and absorb the most advanced international and domestic technologies, break the monopoly of foreign products, enhance the international voice of my country’s petrochemical industry, and aspire to become a representative country Participate in world-class refining and chemical projects that compete internationally. The scale of the Shenghong refining and chemical integration project is: 16 million tons/year oil refining, 2.8 million tons/year paraxylene, 1.1 million tons/year ethylene and downstream derivatives, supporting 300,000 tons crude oil terminal, and four 50,000 tons liquid Chemical terminal, 3 million cubic meters of storage and utility islands, etc.
The total investment of the project is about 67.7 billion yuan. After completion, it can achieve annual operating income of about 92.5 billion yuan and profits and taxes of more than 20 billion yuan. It will effectively promote the development of Lianyungang petrochemical industry base and the adjustment and upgrading of the national petrochemical industry structure. The Shenghong Refining and Chemical Project has a total investment of approximately 77.5 billion yuan and an annual crude oil processing capacity of 16 million tons. It is expected to be completed and put into operation in 2021. By then, it will achieve an annual output value of approximately 120 billion yuan and profits and taxes of over 20 billion yuan, promoting the group to form a complete “Crude oil – aromatics – PTA – polyester – chemical fiber” new high-end textile industry chain and “crude oil + alcohol base – olefins – fine chemicals” characteristic petrochemical industry chain, “double chain extension” boosted Shenghong’s sprint to the “Fortune 500” A new journey.
<img data-preview-src=""data-preview-group="Thecompany'sdemandforliquefiedpropaneis900,000tons/year,anditsdemandformixedbutaneis600,000tons/year;itsannualsalesofpropyleneare200,000tons,propyleneoxideis260,000tons,MTBEcanreach820,000tons,andacrylicacidandestersare440,000tons.100,000tonsofn-butanoland40,000tonsofNPG.Thecompany'sproductsarewidelyusedincoatings,superabsorbentresins,gasolineblenders,polyesterresinsandotherindustries.Thecompanyiscommittedtoprovidingcustomerswithhigh-qualityservicesandbecomingthemostcompetitiveandinternationallyinfluentialC3/C4industrialchainbasicchemicalsandderivativesindustry’smosttrustworthybusinesspartner.WanhuaPetrochemicaladoptsthepropanechemicalroute.Withtheexistingpropyleneintegrationandtheethyleneintegrationunderconstruction,thetotalpropaneprocessingcapacitywillreachmorethan3milliontons,makingitthelargestpropanechemicalbaseinChina.Propaneisusedinchemicalproductionandcanbedividedintotworoutes:dehydrogenationandcrackingaccordingtotheprocessingmethod.Propanedehydrogenation(PDH)usespropaneasasinglerawmaterial,andtheproductsarealmostallpropylene.Wanhua’spropyleneintegrationisthePDHroute.Propaneisgenerallyusedforcrackingwhentheeconomicsareparticularlygood.Somepropaneismixedwithnaphthaasarawmaterialforcracking.Thecompositionoftheproductisrelativelycomplex.However,theethyleneintegrationprojectunderconstructionbyWanhuausespropaneasasinglerawmaterialforcracking.,themainproductsareethyleneandpropylene.
09 Yulong Petrochemical
Shandong Yulong Petrochemical Co., Ltd. has completed industrial and commercial registration in June 2019. The Yulong Island refining and chemical integration project (Phase I) is located in Yulong Island, Longkou City, Yantai City, Shandong Province. It is led by Nanshan Group and has a planned capacity of 40 million tons/ annual refining and chemical integration project. On the afternoon of October 24, 2020, Shandong Province held a centralized start-up event for major projects, and 496 major projects started construction. The Yulong Island refining and chemical integration project started at the same time, and supporting projects were signed online. The Yulong Island Refining and Chemical Integration Project (Phase I) is located on the 2nd and 3rd islands of Yulong Island, Longkou, Yantai City, Shandong Province. The project construction investment is approximately 127.4 billion yuan, and the construction period is 24 months. The project plans to build a crude oil processing capacity of 20 million tons/year, mainly equipped with a 10 million tons/year atmospheric pressure distillation unit and a 10 million tons/year atmospheric and vacuum distillation unit, a light hydrocarbon recovery unit, a desulfurization and demercaptan unit, and a residual oil hydrogenation unit. and other refining process units, chemical process units such as ethylene, pyrolysis gasoline hydrogenation, aromatic hydrocarbon extraction, butadiene extraction, EVA/LDPE, supporting public works, auxiliary facilities and seawater desalination, seawater intake and drainage facilities.
10 Dongming Petrochemical Group
Shandong Dongming Petrochemical Group was founded in 1987. It currently has 7,000 employees, total assets of 30 billion yuan, and a crude oil primary processing capacity of 15 million tons/year. It is a company integrating crude oil processing, petrochemicals, chlor-alkali chemicals, fine chemicals, natural gas chemicals and engineering. It is a super-large petrochemical enterprise group with diversified equity that integrates technology, real estate, refined oil (gas) sales, international finance, international trade, international investment, international logistics, infrastructure, culture and education, etc. Ranked 188th among the “Top 500 Chinese Enterprises”, 81st among the “Top 500 Chinese Manufacturing Enterprises”, 55th among the “Top 500 Chinese Private Enterprises”, and 11th among the “Top 500 Chinese Petroleum and Chemical Enterprises” in 2019. Ranked 5th among “Top 100 Private Enterprises in Shandong”. Speaking of refining, many people’s first impression may be Jinan Refinery, but Jinan Refinery belongs to Sinopec and does not belong to Shandong Refining. The largest refining in Shandong is Dongming Petrochemical. In 2019, it ranked among the top 500 private enterprises in China. No. 55, the strength is evident. </p
