Trillion Tons Of Petrochemical "Giant" Gradually Formed! The Three Phase Of The Zhejiang Petrochemical Base Project Will Be Launched To Fully Link The World'S Top 500 In Saudi Arabia, May And BP.

The Zhejiang green petrochemical base, which covers an area of 41 square kilometers, has invested 173 billion yuan in one or two phases, and built 40 million tons / year integration project.

"The whole island scale and the high level of refining and chemical integration are prominent features of the green petrochemical base, and also create a good foundation for the agglomeration of petrochemical industry here." Luo Wei, executive director of Zhejiang Petrochemical Co., Ltd.

In May 20th, the first batch of units of Zhejiang Petrochemical 40 million ton / year refinery and chemical integration project (phase I) was successfully put into operation. The two phase of the project is to plan and build 20 million tons / year oil refining, 5 million 200 thousand tons / year aromatics (4 million tons / year PX), 1 million 400 thousand tons / year ethylene and fine chemical industry in the middle and lower reaches.

While petrochemical projects are landing, international investment promotion is also advancing in an orderly way.

According to Luo Wei, the three phase of the green petrochemical base project will start planning this year, and will fully link the world's 500 largest petrochemical enterprises such as Saudi Amy and BP.

The green petrochemical base is carrying out international investment promotion, attracting high-end chemical industry projects, and plans to focus on developing new petrochemical fields matching with modern manufacturing, new energy, life sciences and other emerging industries. At that time, it will form a world-class, comprehensive and modern petrochemical industrial base.

BP and Zhejiang Petrochemical work together to build acetic acid "Big Mac"

In October 18th, BP, one of the largest oil and petrochemical groups in the world, announced the signing of a memorandum of understanding with Zhejiang Petrochemical Company Limited. The two will jointly build and operate an acetic acid plant with an annual output of 1 million tons in the East China region with a 50:50 investment ratio.

The joint venture plant will be located in Zhoushan City, Zhejiang province. BP CATIVA XL technology will be used to produce acetic acid. Acetic acid, as an intermediate chemical product, is widely used for the production of paints, adhesives and solvents, as well as the production of PTA (terephthalic acid). BP has always been the world's leading PTA producer. The new plant will be located in the integrated system Park of Zhejiang petrochemical in Zhoushan refining and petrochemical production, which will also be the largest acetic acid production facility in the world in BP.

Signed a memorandum of understanding with Saudi Amy to participate in the three phase of Zhoushan petrochemical project

In September 5th, Saudi Amy signed a memorandum of understanding with the Zhejiang free trade zone to further promote the plan of Saudi Aramco's acquisition of 9% stake in the integrated petrochemical and petrochemical project. According to the memorandum, the Zhoushan municipal government emphasized its strong support for Saudi Amy's investment in the future downstream areas of Zhejiang.

The memorandum is intended to further advance the Saudi Aramis plan to acquire 9% of Zhejiang's oil refining and chemical integration project, including a long-term crude oil supply agreement and the right to use Zhejiang Petrochemical's large oil depot, which highlights the strategy of Saudi Aramco's expansion of its energy business in China.

The memorandum of understanding signed will help Saudi aris to participate in the three phase of the 400000 barrels / day (20 million tons / year) petrochemical project in Zhoushan. The two sides will also assess potential investment opportunities in other aspects of the value chain, including refining and chemical industry, storage and trade of crude oil and natural gas, and retail and distribution of refined oil in the Zhejiang free trade area.