China Refining-Chemical Integration Development Model and Project Feasibility analysis Report, 2013-2017

It is an important way for global oil refining corporations to increase the economic benefit and market competitiveness by extending the petroleum processing industrial chain towards chemical industry, producing high added value products, and adopting refining-chemical integration management. Consequently, there are many refining-chemical integration petrochemical corporations in China since 1980s, such as Daqing, Fushun, Dalian, Quanzhou, Tianjin, Qilu, Shanghai, Jinling, Guangzhou and Maoming. In the meantime, there are many new refining-chemical integration corporations which are under construction.

Since the reform and opening-up, the consumption of China petroleum and chemical products is obviously increasing along with the fast and stable growth of economy. According to statistics, the China petroleum apparent consumption in 1990 is 0.115 billion tons while it increases to 0.252 billion tons in 2003 and 0.49 billion tons in 2011. China becomes the second largest petroleum consumer follows the United State in the world. With the rapid growth of downstream consumption, the ethylene equivalent consumption in 2010 is about 33.15 million tons, while it will be 40.03 million tons in 2015 and 49.36 million tons in 2020.

At present the chemical raw oil became the significant target product for refining factories. The refining-chemical integration corporations as well as most refining factories are responsible for providing chemical raw oil. The chemical raw oil has become the third major products after diesel oil and gasoline. With such a development speed, the existing contradiction and problems to China oil products and chemical raw oil in the aspects of quantity balance, quality consideration, cost change and economic benefit will be increasingly prominent. Due to the limited petroleum resource in China and the increasing dependence on imported crude oil, the precious petroleum resource should be priority used in producing transportation fuels which can hardly be replaced by mass production. Accordingly, the issue of exploring a scientific development routine for China refining-chemical integration drives more and more attention from petrochemical enterprises.

This report mainly analyzes the following aspects: definition, policy and economic environment of China refining-chemical integration development; related industries of refining-chemical integration; development experience of international refining-chemical integration; development model of China refining-chemical integration corporations; economic evaluation of refining-chemical integration projects; operational condition of leading refining-chemical integration corporations; development analysis of China petrochemical industrial cluster; feasibility analysis of China refining-chemical integration project.

Here, we’d like to express our sincere gratitude to National Statistics Bureau of China, International Information Institute, National Institute of the Ministry of Commerce, National Tsinghua University Library, Institute of Market Economy of the State Council Development Research Center, and Beijing Tsinghua Forward Market Research Center, etc. Thank you so much!

Qianzhan Business Information Co., Ltd. Industry Research College
Research Team of Refining-Chemical Integration