June 30, 2010 at 4:44 pm #2601
Sinopec’s Beihai crude base ready in Sept 2011
Reuters – Thursday, July 1
* Crude reserve base enough for 4 days of China crude imports
* Sinopec also adding a new 100,000-bpd crude unit
* Sinopec to add further a new 200,000 bpd refinery in Beihai
By Chen Aizhu
BEIJING, June 30, 2010 – Sinopec Group plans to add a 20-million-barrel crude reserve base in southwestern China by September 2011, the company said, part of China’s plan to boost commercial stockpiling that has fuelled record crude imports.
Sinopec will also add a new 100,000 barrel per day crude refining unit in Beihai, in the Guangxi region that borders Vietnam, where the state oil giant eventually wants to establish a refining and petrochemical base. A Sinopec media official confirmed that the firm has set an internal target to finish the tanks and the crude unit by September next year.
“The crude base is a combined effort of both the government and the company,” said the Sinopec official, who declined to be named. Sinopec Group is the parent of top Asian refiner Sinopec Corp.
China, the world’s No.2 oil consumer and crude buyer, has stepped up building an oil reserve system that combines efforts from the central government, state oil giants and recently, the private sector.
China imported nearly 30 percent more crude oil in the first five months of the year than a year earlier, customs data has shown, part of which industry officials said has been pumped into newly ready reserve tanks.
For related stories on China’s oil reserve build: [ID:nSGE65M0ED] [ID:nTOE64S00A]
The new crude processing unit will serve primarily to produce feedstocks for a 200,000 tonne-per-year polypropylene plant that makes plastics intermediates, a government source earlier told Reuters by telephone from the port city of Beihai.
A follow-up investment will be a 200,000 bpd refinery that Sinopec aims to complete by 2015, said the source, a plan that has yet to be submitted for Beijing’a approval. The Beihai crude base, enough to store ten very large crude carriers of oil or four days of crude imports, will also partly serve the operational needs for the planned refinery, the government source added.
A 300,000-tonne crude oil terminal was almost ready at Weizhou Island some 50 kilometres off Beihai, from which an undersea pipeline will be built to connect with the storage base and the refinery.
June 30, 2010 at 4:45 pm #5558
Update on Sinopec’s Beihai/Guangxi Crude Reserve & associated projects. It provides info updates on several other coker key points:
– China/Sinopec has continued filling their large Strategic Reserve System at 30% increased rates over last year (China ~ shut down filling when the crude prices topped $75-80/Bbl & its understandable once rates fell below that they would resume (has likely offset some WW refinery economic turndowns & closures).
– Sinopec’s New Grassroots 200MBD Beihai/Guangxi Refinery (~2015 completion) is still in planning stage & has not been submitted to Beijing for approval.
– PetroChina’s New 200MBD Quinzhou/Guangxi Refinery is ready for start-up this year. <Project will have a new coker as well>
Remember the Sinopec Beihai Coking Refinery was originally a tiny 12MBD Refinery (news ~ Feb 2010) that was relocated to Guangxi near Vietnam because of environmental reasons & was part base for Refinery & Petrochemical 200MBD expansion project.
CNPC/PetroChina’s Quiznhou/Guangxi Coking Refinery project updates have always been postscrip to most Sinopec’s Beihai expansion news because they are in same province.<Note Do not confuse CNPC Quinzhou with the CNOOC’s Huzihou/Bohi Bay new coking refinery that really came online in May 2009 (calciner Aug 2009) which didn’t get operational / full capacity until ~ 1Q2010. It also began a Phase II expansion (with additonal coker) before completion of Phase I. It is also not in Guangxi province the article but is in Guangdong province.>
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