Natural Resources Newsletter - 11 February 2015

Chinese-regulators-approve-sinopec-plan-for-grassroots-refinery

  

CHINESE REGULATORS APPROVE SINOPEC'S PLAN FOR GRASSROOTS REFINERY

China's National Development and Reform Commission (NDRC) has approved plans by Sinopec Beijing Yanshan Petrochemical Co. Ltd., a subsidiary of China National Petroleum Corp. (Sinopec), to build a grassroots refinery in the Caofeidian Industrial Zone, Tangshan, Hebei Province. The US$4.3billion refinery will have a crude oil processing capacity of approximately 12 million tonnes per year and will have additional processing units for residual fluid catalytic cracking, hydro-treating, hydrocracking, isomerization, alkylation, and desulfurization. A firm timeline for the project, which initially included a 200,000-b/d refinery scheduled to be commissioned by 2015, has not yet been disclosed.