Friday, December 18, 2009 4:20 AM
BEIJING, Dec. 18, 2009 (Xinhua News Agency) -- After the completion of expansion p rojects of Sinopec's (NYSE:SNP) refining subsidiaries in the coming years, some 3 0 million metric tons (tonnes)/year refining capacity will be added to
the company from now to 2015, the company newspaper China Petrochemic al Daily reported Friday.
The report said the company's total refining capacity stood at 2 02 million tonnes/year in 2008.
The formal operation of Shanghai refining and ethylene complex p roject and Tianjin 1-million-tonnes/year ethylene project will bring S inopec's total ethylene production capacity above 8 million tonnes/yea r.
Sinopec's Zhenhai ethylene facility, the Yangzi-BASF ethylene co mplex, will complete a technology innovation and overhaul in 2010, fur ther reinforcing the company's ethylene capacity by the additional 1.1 5 million tonnes/year production capacity.
Sinopec (SNP.NYSE; 600028.SH) ranks as China's largest oil refin er. With refineries close to China's major consuming markets of oil an d petrochemical products in southern and eastern China, the company pl ays a dominant role in the country's downstream oil sales and distribu tion system.
(Source: iStockAnalyst )
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