China’s biggest refner, state-controlled Sinopec, aims to spend 200bn yuan ($29bn) by 2020 to expand and upgrade plants in four regions as it looks to develop larger, more competitive refning and petrochemical clusters. The investment plans focus on the Maoming-Zhanjiang area in south China and Zhenhai, Shanghai and Nanjing in east China. Sinopec aims to have at least 2.6mn-2.7mn b/d of crude processing and up to 9mn t/yr (443,000 b/d) of ethylene pro- duction capacity in the four regions by 2020, up by 332,000- 432,000 b/d and around 3.45mn t/yr respectively from current levels.
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