Construction starts on US$20 billion petrochemical and refining complex in China
Published by Nicholas Woodroof,
Editor
Hydrocarbon Engineering,
The Yulong project to be built in Yantai, Shandong, China’s hub for independent oil refineries, consists of a 400 000 bpd refinery and a 3 million tpy ethylene plant, Reuters reported in June.
The project is one of nearly 500 key industrial projects that started construction in Shandong province last week with total investment of 544.7 billion yuan (US$81.26 billion), the newspaper reported.
The report did not provide further detail about the financing for the project or when the construction be will completed.
The complex, with investment led by private aluminium smelter Shandong Nanshan Group, adds to China's recent wave of petrochemical investments, which have been led by the private sector and drawn global giants such as BASF and ExxonMobil to build complexes in the world's top petrochemical consumer and importer.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/28102020/construction-starts-on-us20-billion-petrochemical-and-refining-complex-in-china/
You might also like
Hydrocarbon Engineering Podcast
In this episode, Alan Gelder, Senior Vice President of Refining, Chemicals and Oil Markets at Wood Mackenzie, provides a review of downstream markets in 2024 and looks ahead to what 2025 may hold for the sector.
Petrobras begins binding phase of Tartaruga Field
Petrobras has begun the binding phase of the Tartaruga Field in the Sergipe-Alagoas Basin.
