BP, the world's leading PTA producer, and Zhejiang Petrochemical join hands to build a world-class project

The multinational oil giant BP Group announced on the 18th that it officially signed a memorandum of understanding on cooperation with Zhejiang Petrochemical .

The joint venture plant is planned to be located in Zhejiang Petrochemical's integrated system park of refining and petrochemical production in Zhoushan, and will use BP's CATIVA XL technology to produce acetic acid

The new plant will be BP's largest acetic acid production facility in the wor.

The MOU was signed by Nigel Dunn, CEO of BP's global acetic acid business, and Luo Wei, executive director of Zhejiang Petrochemical, and witnessed by Yang Xiaoping, chairman and president of BP China, Li Shuirong, chairman of Zhejiang Petrochemical, and leaders of the Zhejiang Provincial Governme.

Li Shuirong, chairman of Zhejiang Petrochemical, said: "This move will help Zhejiang Petrochemical strengthen and optimize its structure, enhance its competitiveness, and jointly promote the high-quality development of the petrochemical indust.

Yang Xiaoping, Chairman and President of BP China, said: "This investment not only reaffirms BP's long-term confidence in the Chinese market, but also represents a new step in BP's business in Chi.

China is the world's largest acetic acid consumption market, accounting for about half of the world's acetic acid production capaci.

Chongqing Yangtze River Acetyl Chemical .

Nanjing Yangzi Petrochemical Bipi Acetyl .

Previously, in China, BP jointly operated more than 740 dual-brand gas stations in Guangdong and Zhejiang provinces with PetroChina and Sinopec, selling more than 12 million liters of gasoline and diesel a day and serving about 400,000 custome.

Zhejiang Petrochemical put into production: Cooperating with the world's top petrochemical and energy companies, px is no longer controlled by others!

Zhejiang Petrochemical has been attracting much attention in China's petrochemical private enterprises in recent yea.

Zhejiang Petrochemical's 40 million tons/year refining and chemical integration project is currently the largest refining and chemical integration project under mixed ownership in China, and is the core project of Zhoushan's green petrochemical industry ba.

In order to alleviate the situation that domestic paraxylene (PX) is seriously constrained by foreign countries, Zhejiang Rongsheng Petrochemical, the main holding company of Zhejiang Petrochemical, and Zhejiang Juhua, Zhejiang Tongkun, and Zhoushan Marine Comprehensive Development Investment Company jointly invested 173 billion yuan in Zhoushan Green, Zhejiang Provin.

The total scale of the project is 40 million tons/year of oil refining, 14 million tons/year of aromatics and 8 million tons/year of ethyle.

The construction of the Zhejiang petrochemical project is strictly in accordance with the standards of Zhejiang Province for building an international petrochemical industry base and the requirements of a world-class petrochemical ba.

At the same time, the design of production capacity is advanced, which can keep the whole device running all year round and greatly improve the operation efficien.

The impact of Zhejiang Petrochemical after the start of production: the golden period of Japan and South Korea has passed, and the era of oligarchic competition is coming

The impact of Zhejiang Petrochemical on the industry is hu.

The 40 million tons/year oil refining, 14 million tons/year aromatics and 8 million tons ethylene project is a huge investment project even if it is placed in the United Stat.

Its impact on China, Northeast Asia and the world hu.

The domestic oil refining capacity is already in excess, and the production capacity of aromatics and ethylene has tended to be exce.

At that time, the sales of refined oil, polyolefin and PTA in East China will tend to be white-hot, and the reform of domestic refined oil may take place he.

With the production capacity contraction of Japan, the refining and chemical giant in Northeast Asia, the refining and chemical structure in Northeast Asia has changed, and the focus of the refining and chemical industry has shifted to Chi.

The golden age of aromatic hydrocarbons and polyolefins in South Korea has passed, and Northeast Asia has entered the era of oligarchic competition from the era of competiti.

There are new buyers of crude oil in the Middle Ea.

According to the current global supply surplus of 2 million barrels per day, as long as the economy maintains the current situation, the new domestic production capacity will be able to absorb the global crude oil surpl.

The importance of oil-producing countries cannot be overemphasiz.

The reform of "three barrels of oil" needs to be put on the agenda as soon as possible, and small local refineries have to take a differentiated route, and the competition on the sales side will become more and more intense in the futu.