CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China
China National Offshore Oil Corp (CNOOC) has completed building an integrated refining and petrochemical complex in eastern China, state news agency Xinhua reported.
The 21 billion yuan ($2.9 billion) project, built on the Daxie Island of eastern coastal city Ningbo, Zhejiang province, includes what CNOOC calls the country's largest facility that directly converts heavy oil into olefins.
A core unit brought onstream can produce 1.2 MMtpy of polymer-grade ethylene and propylene, basic feedstocks for beverage bottles, food packaging and synthetic fibre clothing, the report said.
Following the startup, the plant's olefins capacity will reach 1.8 MMtpy, it said, without giving any details on the expanded refinery at the same site.
Reuters reported in March that the complex included an upgrade that expands crude processing capacity at the Daxie plant by 50% to 240,000 barrels per day, as a smaller crude unit was mothballed.
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