On the afternoon of December 8, local time, China and Saudi Arabia signed the Comprehensive Strategic Partnership Agreement between the People’s Republic of China and the Kingdom of Saudi Arabia. In recent years, China and Saudi Arabia have cooperated closely in various fields such as energy and petrochemicals. Especially in the petrochemical industry, we have collaborated on many large projects. Today, let’s take a look at the tens of billions of yuan investment chemical projects that China and Saudi Arabia have cooperated with.
Investment amount: 420.7100 million yuan
China Shagule Ethylene Project
In June this year, the Fujian Provincial Development and Reform Commission approved the Fujian Gulei 1.5 million tons/year ethylene and downstream deep processing complex project (Zhongsha Gulei Ethylene Project). The total project investment is 42.07 billion yuan strong>, marking the official launch of the largest one-time investment Sino-foreign joint venture project in Fujian Province to date.
The project is jointly constructed by Fujian Energy and Petrochemical Group Co., Ltd. and the global petrochemical giant Saudi Basic Industries Corporation (SABIC). It will invest in the construction of a 1.5 million tons annual ethylene and The downstream deep processing combined device adopts a total of 19 world-leading process technologies. After completion, the annual output value will be approximately 30 billion yuan, which will drive upstream and downstream investment exceeding 100 billion yuan.
Last year, the China-Saudi Arabia Gulei Ethylene Project joint venture contract was officially signed, and the signing ceremony was held via a video link “cloud signing”.
Investment amount: over 8 billion US dollars
Yanbu Refinery reaches the best efficiency level in history
On December 9 this year, according to information from the Sinopec Information Office, this year, my country’s largest investment project in Saudi Arabia, the Yanbu Refinery, bucked the trend and achieved strong results. The net profit from January to November exceeded 1.4 billion U.S. dollars, and operating efficiency reached the best level in history.
As my country’s largest investment project in Saudi Arabia, the Yanbu Refinery is a joint venture between Sinopec and Saudi Aramco. The total investment exceeds US$8 billion.
Based on the Yanbu Refinery, Sinopec actively cultivates and develops overseas markets for gasoline, diesel, petroleum coke, sulfur and other refining products, and continues to promote cooperation between China and Saudi Arabia in the fields of oil and gas exploration, oil trade, and engineering services. China As the world’s largest oil refining company, Petrochemical’s global influence and brand recognition continue to increase.
Except for being affected by extreme factors, the device has been operating at full capacity since 2015, with the maximum processing capacity increased to 430,000 barrels per day. As of 2021, it has processed a total of 134 million tons of crude oil, produced 29.52 million tons of gasoline, and 79.95 million tons of diesel. Ton. Indicators such as equipment operating rate and operation integrity rate are ranked first in the three major regions of the Middle East, Europe and Asia-Pacific in Solomon’s performance evaluation.
Investment amount: over 10 billion US dollars
Panjin large-scale refining and chemical integration project
On March 10 this year, Saudi Aramco announced that it had made a final investment decision and would participate in the development of a large-scale integrated refining and chemical complex in Northeast China. The project is located in Panjin City, Liaoning Province and is expected to be put into operation in 2024.
The entity responsible for developing and operating the above-mentioned projects is Huajin Aramco Petrochemical Company, a joint venture formed by Saudi Aramco, Northern Huajin Chemical Group Company and Panjin Xincheng Industrial Group. The joint venture was established as early as December 2019, with Saudi Aramco holding 35%.
According to the original plan, the total investment in the Panjin project exceeded 10 billion US dollars. However, since then, the outbreak of the new crown epidemic has caused turmoil in the oil market, and Saudi Aramco’s financial situation has also suffered a heavy blow. The Panjin project has stalled, and there were even rumors that it was considering withdrawing from the project. In February this year, Saudi Aramco restarted negotiations to build a joint venture refinery in China.
According to details disclosed by the company,The Panjin project complex includes a refinery with a crude oil processing capacity of 300,000 barrels per day and an ethylene steam cracker. Ethylene is used to manufacture a variety of daily products. Basic Petrochemicals. Saudi Aramco will supply up to 210,000 barrels per day of crude oil to the combined unit.
Investment amount: 22.04 billion yuan
700,000 tons/year coal-to-olefin new material demonstration project
The Shenhua Ningxia Coal-Saudi Basic Industries Corporation joint venture 700,000 tons/year coal-to-olefins new material demonstration project is located in the Coal Chemical Industry Park of Ningdong Energy and Chemical Industry Base in Ningxia Hui Autonomous Region, The total investment is 22.04 billion yuan, Use coal as raw material to produce 2 million tons of methanol and further process it to produce polymer-grade ethylene and propylene. The final production is 345,000 tons/year of polyethylene and 420,000 tons/year of polypropylene. At the same time, sulfur and sulfur are by-products. Ammonium and other by-products. It is planned to utilize local coal resources of 4.2633 million tons/year, including 3.394 million tons/year of raw coal and 869,300 tons/year of fuel coal.
Construction content includes main projects, public projects, auxiliary projects and environmental protection projects. The main project includes pulverized coal pressurized gasification, conversion, low-temperature methanol washing, sulfur recovery, methanol synthesis, methanol-to-olefins, ethylene-vinyl acetate, low-density polyethylene, ultra-high molecular weight polyethylene, polypropylene, air separation and other production device. Storage and transportation projects include storage tanks, coal storage silos, polymer finished product warehouses, sulfur finished product warehouses, etc. Public auxiliary projects mainly include power stations (three 380 ton/hour pulverized coal furnaces, 2 on and 1 off), domestic water treatment system, desalted water and condensate refining station, torch, etc. The environmental protection project mainly includes comprehensive biochemical treatment equipment, salty wastewater treatment equipment, boiler flue gas treatment measures, oil and gas recovery, regenerative oxidation furnace, 1 general solid waste temporary storage site, 1 hazardous waste temporary storage warehouse, etc.
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