A Polymerupdate source in China informed that the plant is planned to be shut in end-October 2014. It is likely to remain off-stream for around one month.

 

Located at Zhenhai in China, the plant has a production capacity of 650,000 mt/year.

 

As MRC informed previously, in August 2014, Sinopec posted a better-than-expected 7.5% increase in first-half profit as refining margin at Asia’s biggest refiner widened and production climbed.

 

We also remind that in November 2013, Sinopec won initial approval last month from China's top economic planner for a plan to build a USD10-billion refinery and petrochemical complex in Shanghai. China, the world's largest net importer of oil, is likely to add 3 million barrels per day, or a quarter of new refining capacity, between 2013 and 2015 to fuel economic growth, industry officials and Chinese media estimate.

 

China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group's key business activities include the exploration and production of oil and natural gas, petrochemicals and other chemical products, oil refining.