Hand in hand to continue the oil in the oil will be one million tons ethylene task to set up
China’s largest oil company in Shaanxi Province where the extension of the oil (Group) Co., Ltd. (hereinafter referred to as “the extension of the oil”), will hand in the oil group to build a scale of one million tons of ethylene plant with a total investment of 23 billion yuan is expected to be.
A prolonged time, to carry on the mining and refining of oil in the paddock is “one-man operations.” In today’s oil prices smaller, its apex oil demonstration time span is through the circumstances with China National Petroleum Corporation will jointly generate higher the oil to carry on the short-board, and its track down for novel profit growth point.
Development and Reform Commission has reported
According to reporter had an exclusive comprehending of the new vegetation will be established in Yan’an City, Shaanxi Province. Shaanxi Provincial Government and China National Petroleum Corporation has marked a prescribed collaboration affirmation, the two edges have together submitted to the National Development and Reform Commission accepted the task submission articles, and perform pre-feasibility study reports.
However, the ratio of the two sides of the joint venture, co-operation remains unclear.
Yan’an City, the Office of Development and Reform Commission, a person to the CBN, conveyed reporters: “The endeavour in assignment of the province, the region will be answered in New Chemical Yang Shu.” According to public learning on the chemical zone will be one million tons of ethylene as a head, the erected plan of nine downstream chemical projects.
In supplement to Sinopec, PetroChina and CNOOC these three centered grade, the elongation of the oil is the only business with oil and gas investigation and development of localized oil businesses trained under the Shaanxi Provincial People’s Government. 2008, accomplished sales of 62.2 billion yuan, earnings 10 billion yuan, 78,000 persons are employed.
The extension of oil in 1998 and has undergone two rounds of the 2005 reorganization of its core assets are under the extended group Oilfield Company Limited (hereinafter referred to as “oil share”). It has been an important local Shaanxi large taxpayer. In 2007, the oil field stake 1.92 billion yuan tax.
Oil portions also treated to carry on the oil field has been the inside rate of the acquisition objectives. A lineage close to the highest crosswise in the oil assembly conveyed CBN Reporter: Many years ago, China National Petroleum Corporation hopes to win oil field supplies, but a stringent stand in Shaanxi Province, so unable to do so.
“This collaboration expanded to open up the downstream oil enterprise will benefit.” Yi Trade Advisory Network analyst, said Liu Chuan-jun.
Extension of the mining paddock there are a hundred years of mining history. A Sinopec’s authorities is responsible for exploration and expansion conveyed writers that such a life of oil demonstration can no longer straightforward to cut is inevitable. In supplement, it belongs in the Ordos Basin, has been in the oil田长庆Spodiopogon oilfield, oil field it is despairing to carry on the very many deductions outward.
To generate higher for short-board
Mining is one of the problems there are problems, low oil prices on corporate income of crude oil production has also brought challenges.
The business has revealed, as asserted by the reorganization of the localized affirmation was to continue the exploitation of oil per 1 ton of crude oil to about 550 localized payment.
Yesterday, the worker exchanging price of crude oil is come seal 47 U.S. dollars / box with a lid (about 2240 yuan / ton) to the price, 550 yuan / ton to carry on the oil accounted for come seal one-quarter of oil revenue. Thus the smaller oil prices, the revenues of the extension of the greater pressure.
Moreover, there is no extension of the oil filling stations, its subsidiary refinery production of refined oil through the oil group to sell two a year to sell the finished products from fuel oil in about 1.1 million tons.
The role of these factors, the extension of the operation of the oil will face big challenges, and need to find new profit growth point.
General supervisor of the contrive to continue the oil-yiu have said that in 2009 the elongation of 300 billion yuan of oil, the oil investigation and development to be 10.4 billion, most of the residual pieces will be put on the chemical industry.
With the east and south China in distinct ethylene-intensive layout, Shaanxi, Shanxi and Gansu in Northwest China, with the exclusion of the Lanzhou Petrochemical Petroleum have 600,000 tons / year ethylene vegetation, there is no one million tons of large-scale ethylene plant.
Whether or not the right time for ethylene production, the industry also has different points of view. China Petroleum and Chemical Industry Association, who said that our country may not be too much of the ethylene project approved, the project has been around a lot of projects. And the Middle East also made use of its cheap production costs to increase ethylene production, the global face of excess ethylene.
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Tags: Business, Ethylene Plant, Chemical Projects, Oil Company