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SINOPEC Shanghai Gaoqiao Company

http://english.sinopec.com/en-company/en-subsidiaries/en-refiningbranch/en-gaoqiao/1164.shtml

SINOPEC Shanghai Gaoqiao Company (hereinafter referred to as Gaoqiao Branch) is located in Shanghai Pudong New District, facing Huangpu River to the west and near Wusong Mouth to the north, thus enjoying both land and water transportation convenience and being an important production and export base of China's petroleum and petrochemical industry, possessing 10MMT of refinery throughput and millions tons of refined oil exporting capacity. Occupying an area of 3.02 square kilometers, Gaoqiao Branch is composed of a petroleum refinery, a petrochemical complex and a supplying & marketing company. The refinery has a crude processing capacity of 11.3 million tons per year, and is the only refinery capable of producing lube oil and wax products in east China. The petrochemical complex currently can produce 3 series of products, namely synthetic rubbers, synthetic resins and organic chemicals. In 2003, the Branch owned 8.0 billion RMBY of fixed assets. Currently among Gaoqiao Branch's employees, there are 1,400 technical and management personnel and in which 116 are senior professionals. The Branch has 46 production units in total, the main plants are named as following:

#1 Crude Distillation, 3.3 million T/A
#3 Crude Distillation, 8.0 million T/A
#1 Fluid Catalytic Cracking, 0.9 million T/A
#2 Fluid Catalytic Cracking, 0.6 million T/A
#3 Fluid Catalytic Cracking, 1.4 million T/A
Continuous Reforming, 0.6 million T/A
Gasoline & Diesel Hydrotreating, 1.8 million T/A
Delayed Coking, 1.4 million T/A
Lube Oil Train, 0.4 million T/A
Parafin Wax Series, 0.18 million T/A
Cis-Polybutadiene Rubber, 96,000 T/A
Phenol & Ketone, 120,000 T/A
AS Resin, 6,000 T/A.

Gaoqiao Branch is subsidizing an oil product research institute and a chemical research institute, dedicated to the development of new brands of lube oil and chemical products. More than 100 research & study achievements have been awarded with prizes for science & technology progress and/or new products by state, Shanghai Municipality or SINOPEC. The products manufactured in compliance with international standards or advanced foreign standards account for 77% of regular produced brands.

Gaoqiao Branch has been operating several joint ventures with world famous oil and chemical companies including German's BASF, America's Caltex, Swiss's Ciba-Geigy and Japan's Mitsui Alkyl Phenol etc. Currently the Branch is taking an active part in the development and construction of Shanghai Chemical Industrial Park (SCIP), a phenol/acetone plant of 20,000T/A capacity is now under construction, while co-operation intentions are discussed with other multinational chemical companies for other projects including styrene-butadiene rubber, ABS resin etc.

China Chemical Reporter 2003/8/15

Twenty Years' Reform and Development in SINOPEC
　　　http://168.160.250.67/ccr.nsf/0/91ad635256a4770c48256d82006fb283?OpenDocument

During 1983-2003 SINOPEC has stood the test in the reform of state-owned enterprises and the upsurge of the market economy and achieved a historic leap forward.

BP、Sinopec株を売却　 　

BPは2000/10にSinopecが株式の20%を国際市場に売り出した際に2.1%分を385百万＄で購入したが、全株を742百万＄で売却した。Sinopecとの関係は従来と変わらないとしている。

2004/2/10 BP

BP Concludes Placing Of Stake In Sinopec
http://www.bp.com/genericarticle.do?categoryId=120&contentId=2016446&PC=0faa4fd02fc00

BP announced today that it has concluded the placing of its entire 2.1 per cent stake in China Petroleum and Chemical Corporation (Sinopec), announced earlier today.
BP has agreed to sell its stake of around 1.8 billion 'H' shares in Sinopec at a price of HK$3.15 a share, raising a total of approximately HK$5.8 billion (US$742 million). Settlement is due to occur on February 13, 2004.
The placing of the Sinopec shares was arranged by Morgan Stanley on behalf of BP.

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2004/2/10 BP

BP To Sell Equity Stake In Sinopec
http://www.bp.com/genericarticle.do?categoryId=120&contentId=2016450

BP announced today that it intends to sell its entire 2.1 per cent equity stake in China Petroleum and Chemical Corporation (Sinopec). The company will carry out the sale through a bookbuilt placing of the shares on public markets.
BP acquired the stake of approximately 1.8 billion 'H' shares in Sinopec when 20 per cent of the company was floated on international markets in October 2000.

China Chemical Reporter 2004/5/28

Nod for ABS in Gaoqiao

The 200 000 t/a ABS project with an investment of RMB1.56 billion in Sinopec Gaoqiao Petrochemical Company recently got approval from the State Development and Reform Commission, the concerned technology import contract was also nodded by the Ministry of Commerce.
The project will kick off in Shanghai Chemical Industry Zone this October and complete by March 2006. Dow Chemical’s technology was selected as the production process.

2005/6/29　日本経済新聞　

カザフで石油安定確保へ　中国石油化工 加社買収検討

　中国国有石油２位の中国石油化工(シノペック)がカザフスタンに権益を持つカナダの石油会社、ぺトロカザフスタンの買収を検討していることが明らかになった。中国紙・東方早報などによると買収額は最大２５億ドル(約２７００億円)。

日本経済新聞　2005/8/23 　　　　　事前報道はシノペック 　　　人民日報記事 　　　　取得完了

　　　　　　　　　　　　　　　　　　　　　　　CNPC Acquisition of PetroKazakhstan Completed　　　memorandum with KazMunaiGaz

中国石油、ペトロカザフ買収　総額42億ドルで合意　原油安定調達　米社以外に攻勢

　中国国有の石油最大手、中国石油天然ガス集団(CNPC)は２２日、カザフスタンに油田の権益を持つカナダのペトロカザフスタンを買収すると発表した。買収金額ば４１億８千万ドル(約4600億円)。中国海洋石油(CNOOC)が米石油大手ユノカルの買収に失敗したばかりだが、エネルギーの安定調達先の確保に向けた中国勢の買収意欲が衰えていないことが改めて浮き彫りになった。
　ペトロカザフの原油生産量はカザフスタン全体の１２%に相当する日量１５万バレルで、可採埋蔵量は５億５千万バレル。油田開発から精製、販売まで一貫して手掛けている。同国に足場を築けば、原油が豊富に埋蔵されているカスピ海の油田開発事業へ参画する道も開ける。
　ペトロカザフの買収を巡ってはインドの石油天然ガス公社(0NGC)も名乗りを上げていた。

▼中国石油天然ガス集団(CNPC)
　１９８８年に当時の石油工業省を母体に中国石油天然ガス総公司を設立。９８年に中国石油天然ガス集団に改組した中国最大の石油会社。グループで油田開発から精製、販売まで一貫した事業を展開しており、スーダンなど海外での油田開発事業も積極的に拡大している。２００４年の売上高は5,707億元(約７兆７千億円)。

▼ぺトロカザフスタン
　１９８６年にカナダに設立されたハリケーン・ハイドロカーボンズが前身。９１年に合弁事業でカザフスタンに進出、２００３年に現社名に変更した。カザフスタンで油田開発から精製、販売まで一貫して手掛め、発電所も持つ総合エネルギー企業。２００４年の売上高は16億4,242万ドル(約1,800億円）。カナダ、米国、英国、ドイツ、カザフで上場している。

「人民網日本語版」2007年1月9日 中国石油、ペトロカザフスタンの株式67％を取得   中国石油天然気公司（中国石油）の責任者は8日、子会社の中国石油天然気勘探開発公司を通じて、カザフスタンに権益をもつカナダの石油会社・ペトロカザフスタン（PK）の株式の67％を取得したと発表した。これにより中国石油のPK買収が完了した。   中国石油とPKは2006年8月23日に提携に調印し、12月28日に北京で事業受け渡し調印式を行った。今回の買収に当たり、中国石油天然気公司は27億3500万ドルを拠出した。

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2005/10/26 PetroKazakhstan Inc.

CNPC Acquisition of PetroKazakhstan Completed

CALGARY, Alberta - PetroKazakhstan Inc. (the "Company") announced today that the acquisition of the Company for US$55.00 cash per share by CNPC International Ltd. ("CNPC") pursuant to a Court-approved Plan of Arrangement has closed. Shareholders will receive payment for their shares from Computershare Trust Company of Canada within the next few days.

"We are delighted that the process which we started several months ago has been successfully concluded," said Mr. Bernard F. Isautier, Chairman, President and Chief Executive Officer of PetroKazakhstan. "CNPC has acquired a business full of opportunities and with high calibre employees. We wish them future success in Kazakhstan."

As a result of the Arrangement, PetroKazakhstan is an indirect wholly-owned subsidiary of CNPC. PetroKazakhstan has applied to delist its shares from trading in the United States on the New York Stock Exchange, in Canada on The Toronto Stock Exchange, in the United Kingdom on the London Stock Exchange, in Germany on the Frankfurt Exchange and in Kazakhstan on the Kazakhstan Stock Exchange.

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October 25, 2005 PetroKazakhstan Inc.

Court Grants Order Approving CNPC Acquisition of PetroKazakhstan

CALGARY, Alberta - PetroKazakhstan Inc. (the "Company") is pleased to announce today that the Alberta Court of Queen's Bench has granted the order approving the Arrangement involving the acquisition of the Company for US$55.00 cash per share by a wholly-owned subsidiary of CNPC International Ltd. A copy of the Court's decision has been posted to the Company's website at www.petrokazakhstan.com.

PetroKazakhstan intends to close the Arrangement tomorrow; October 26, 2005 as soon as possible after the order has been filed with the Court. PetroKazakhstan will make a further announcement once the closing has occurred.

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China Chemical Reporter 2005/10/26

PetroKazakhstan Approved for CNPC’s Bid

PetroKazakhstan shareholders approved on October an offer by CNPC (China National Petroleum Corporation) to buy the company at a price of US$55/share, representing the stage for the deal to be completed after solving some political uncertainty.

Most of shareholders supported the deal with CNPC. PetroKazakhstan has frequently contacted with the former Soviet republic's government, but the officer declined to comment on them. In fact, Russian oil major Lukoil, a partner in a joint venture with PetroKazakhstan, has said it plans to ask the Alberta court to halt the deal because it believes it has rights to the venture stake that will be transferred to CNPC.

CNPC, which is keen on acquiring oversea oil reserve, studied more from another Chinese petroleum company--CNOOC who failed in biding for Unocal due to ignoring political uncertainty. In recent weeks, the deal was nearly stopped because Kazakh lawmakers thought greater control over their country's oil reserves. The government of President Nursultan Nazarbayev passed a law last week that gives the state the right to involve in the sale of foreign-held oil stakes.

On October 15 CNPC signed a memorandum with state-owned KazMunaiGaz to hand over part stakes to the latter. According to the memorandum, KazMunaiGaz will gain a US$1.4 billion stake in PetroKazakhstan. As an exchange, CNPC wins support for the deal that is nearly failed.

Both of the two state-owned oil companies showed satisfaction to the agreement that can guarantee Kazakhstan government to secure control over some of PetroKazakhstan's assets. These include the Shymkent oil refinery, one of three oil processing plants based in the central Asian country. CNPC also showed a strong tension to supply sufficient oil products in Kazakhstan marketplace so that the oil safety in the country can be secured.

China and Kazakhstan are building a 3 000 kilometer pipeline to pump crude oil to China across the Central Asian state, and the first-phase of the project is expected to be completed by the end of this year. All the oilfields and refineries of PetroKazakhstan located in Kazakhstan, with a crude oil production capacity exceeding 7 million tons per year.

PetroKazakhstan Inc. 　　　http://www.petrokazakhstan.com/index.html

PetroKazakhstan Inc. (formerly Hurricane Hydrocarbons Ltd.) is a vertically, integrated, international energy company, celebrating its 8th year of operations in the Republic of Kazakhstan. It is engaged in the acquisition, exploration, development and production of oil and gas, refining of oil and the sale of oil and refined products.
Click here to see a Map of Kazakhstan!Click on the image to see a Map of Kazakhstan.

The company has been involved in joint ventures in Kazakhstan since 1991 and participated in the country's first major oil and gas privatization in November 1996. PetroKazakhstan purchased a state-owned oil production company, Yuzhneftegaz, now renamed PetroKazakhstan Kumkol Resources.

In 2000, PetroKazakhstan purchased the downstream company Shymkentnefteorgsyntez (ShNOS), now renamed PetroKazakhstan Oil Products (PKOP), and became the largest private integrated oil company in Kazakhstan.

As of January 1, 2005 PetroKazakhstan's proved and probable oil equivalent reserves were independently assessed at 550 million barrels. PetroKazakhstan's crude oil production is either refined in the Shymkent refinery and sold as refined products predominately in the Kazakhstani market or sold into the export market. Future exports continue to be investigated and pursued.

The KAM pipeline, a PetroKazakhstan 177 kilometre pipeline, began operating in June 2003. This pipeline enhances transportation options by eliminating 1,300 kilometes of circuitous movement and has led to transportation cost savings.

PetroKazakhstan has built and fully commissioned a 55-megawatt gas power plant at its field operations which reduces gas emissions and improves the local environment.

In its downstream operations PetroKazakhstan continues to enhance the product state of the refinery. The start up of the Vacuum Distillation Unit in January 2004 has led to a lower yield of heavy fuel oil.

カザフスタン−中国間石油パイプライン　

カザフスタン−中国間石油パイプライン 　　　　　　地図

2004/6/3 石油・天然ガス調査グループ

中国／カザフスタン：カザフスタン−中国間原油パイプラインがいよいよ建設開始へ
http://oilresearch.jogmec.go.jp/information/pdf/2004/0406_out_j.m_kz.cn_oil_pl.pdf

（各種新聞報道、「中国の石油産業と石油化学工業2003年版」他）
・ 2004年5月、カザフスタンのナゼルバエフ大統領の訪中にあわせ、中国石油天然気集団公司（CNPC）とカザフスタン国営Kazmunaigasは、カザフスタン・Atasu（アタス）から中国新疆ウイグル自治区・アラシャンコウ（阿拉山口）までの石油パイプライン建設に係る基本協定に調印した。
・ 両国間に石油パイプラインを建設することは、1997年に中国の中国石油天然気集団公司（CNPC）がカザフスタンのAktobemunaigazの株式60%を買収（2003年に権益比率を85.12%に増加）した際の義務作業である。工期は3期に分かれており、今回のパイプライン建設は2期工事にあたる。3期全体のパイプライン総延長は約3千Km、輸送能力は20万b/d〜40万b/dであり、事業総額は25〜35億ドルとなる見込みである。
・ 同パイプラインの建設により、原油供給ソースの多様化を図る中国は、新たに鉄道以外の陸路による原油輸入（供給）ソースを確保することになる。カザフスタンからの原油は中国南西部（重慶など）に供給される見込みである。
・ カザフスタンでは今後、テンギス油田の増産や、カシャガン油田の生産開始にともない、石油生産量の急増が見込まれることから、新規パイプラインの建設が必要となっている。新規パイプライン構想としては、中国向けPL、イラン向けPL（トルクメニスタン経由→カーグ島）、カスピ海海底PL（アクタウ(Aktau)→バクー）等がある。

1. カザフスタン−中国間石油パイプライン建設計画の概要
�@1期工事（カザフスタンKenkyak- Atyrau）
総延長：448.8Km
輸送能力：700万トン/年（14万b/d）、1,500万トン/年(30万b/d)へ増強計画あり。
2002年末に完成し、2003年3月から操業を開始しているが、現在はロシア向き。Kenkyak油田等のあるAktobe付近からAtyrauに向かい、更に向きを北西に転じてロシアのSamaraターミナルに向かう。将来的には、このラインを逆送して中国に向かわせる計画である。
�A 2期工事（カザフスタン・アタス−阿拉山口）
輸送能力：1,000万トン/年（20万b/d）、2,000万トン/年(40万b/d)へ増強計画あり
総延長：約1,000km
2004年8月に着工し、2005年末までに完成する計画である。2期工事のパイプライン敷設距離は約1,000km、当初の原油輸送能力は20万b/d、事業総額は約10億ドルの見込みである。なお、原油輸送能力は40万b/dに増加させる計画である。
これは西シベリアからカザフスタン東部のAlmaty、更にトルクメニスタン東部まで南北に走る石油パイプラインに接続するものである。このパイプラインは、カザフスタン北東部に位置するPavlodar製油所に対して西シベリアから原油が供給されているが、今後このラインを通じて、西シベリアから、まず中国国内に石油が供給されることになる。
�B 3期工事（Kenkyak−Kuｍkol）
総延長：750km （Kumkol油田からAtasuまでは既にラインが完成している。）
現在FSを実施している。本ライン完成により、カザフスタンの北カスピ堆積盆地の原油を中国に輸出することが可能となる。
２．中国国内への供給
　新疆地区は原油、石油製品ともに域内需要を上回っている。そのため、カザフスタンからの原油の一部は新疆カラマイにある独山子製油所（2002年末の処理能力700万t/年）などで処理され、製品パイプライン次いで鉄道輸送により新疆カラマイからウルムチ、蘭州を経由して中国南西部（重慶他）に供給される見通しである。カラマイ−ウルムチ間の石油製品パイプライン（1998年8月輸送開始、総延長291Km、輸送能力230万t/y）、蘭州−重慶間石油製品パイプライン（2002年11月輸送開始、総延長1,250Km、輸送能力500万t/y）は稼動を開始している。ウルムチ−蘭州間製品パイプラインは計画中で2006年までに操業を開始する予定（総延長1,953Km、輸送能力580万t/y）である。鉄道輸送は逼迫しているおり、今後需要の伸びに応じて製品パイプラインは逐次増設されていくと思われる。　

http://oilresearch.jogmec.go.jp/information/pdf/2005/0504_out_m_cn_kazakhstan_pl.pdf

　2005 年3 月下旬、カザフスタン−中国石油パイプラインの中国部分の建設が始まった。
　カザフスタン−中国間石油パイプラインは、カザフスタンのカスピ海北部Atyrau から中国新疆ウイグル自治区にあるCNPC 傘下の独山子石油化工分公司（独山子製油所）を結ぶ総延長約3,000km のパイプラインである。カザフスタン国内部分は約2,800km で3 期に分けて建設される。両国が30 億ドルを共同出資している。
　中国国内部分は約240km で、今回着工したのは、両国国境の新疆・阿拉山口（Alashankou）〜新疆・精河（Jinghe）区間104km である。中国石油天然気集団公司（CNPC）傘下のパイプライン会社が建設を行っており、7 月に完成予定である。残りの精河〜独山子（Dushanzi）区間136km は年内に完成予定である。
　本パイプラインの完成により、当初は20 万バレル／日（将来的には40 万バレル／日）の原油が中国に供給される計画である。20 万バレル／日という数量は、2004 年の数値で見ると、中国における1 日あたりの石油消費量の3％に相当する。中国は、石油消費の4 割強を輸入でまかなっているが、20 万バレル／日という数量は、原油純輸入量の6.8％に相当し、最近増加しているロシアからの輸入量（22 万バレル／日）に匹敵する。つまり、原油輸入の中東依存度軽減に若干貢献するものの、消費総量から見ると、それほど大きなインパクトを与える量とは言えない。

1 期：カザフスタン・Kenkyak − Atyrau（2003 年稼動開始）
　　総延長：約450km
　　輸送能力：14 万バレル／日（30 万バレル／日へ増強する計画）
　　現在はロシア向けだが、将来的に逆走させ、中国向けとする。
2 期：カザフスタン・Atasu −中国・阿拉山口（Alashankou）（2004 年8 月着工、2005 年末完成見込み）
　　総延長：約1,300km
　　輸送能力：20 万バレル／日（40 万バレル／日へ増強する計画）
3 期：カザフスタン国内Kenkyak − Kumkol（事業化調査（FS）実施中）
　　総延長：約1,000km
　　輸送能力：不明

CNPC は、カザフスタンAktobemunaigaz の株式85.12％を保有しており、Kenkiyak 周辺の油田権益（Kenkiyak、Zhanazhol 油田など）を保有する。

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「人民網日本語版」2005年12月16日

中国・カザフ石油パイプライン、輸送を開始

中国とカザフスタンが共同出資し、両国を結ぶ石油パイプラインの「アタスー阿拉山口（アラシャンコウ）」区間がこのほど竣工し、15日に輸送を開始した。同区間は2004年9月28日に7億ドルを投じて着工。全長960キロ以上、設計上の年間輸送能力2千万トンで、初期の年間輸送量は1千万トンの予定。

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「人民網日本語版」 2006年5月25日

中国−カザフ石油パイプライン、25日から正式稼動

  新華網によると、中国とカザフスタンを結ぶ石油パイプラインで25日、中国へ石油の輸送が正式に始まった。北京時間で同日未明3時10分ごろ、原油が新疆ウイグル自治区の阿拉山口の中間地点に届き始めた。中国が初めて、パイプライン方式で国外から原油輸入を始めた、という歴史的な意味を持つ。

  中国側関係者によると、中国カザフスタン石油パイプラインで、中国まで輸送される原油のうち、2分の1がカザフスタン内の油田で生産されたもの。残りはロシアのカスピ海沿岸の油田から運ばれる。

  中国石油勘探開発公司の尹君泰副総経理は、中ハ石油パイプラインの原油運輸開始は、中国に安全で信頼できる石油の輸入元ができただけでなく、カザフスタンとロシアに、新たな安定した原油輸出市場を提供することにもなる、と述べた。

  全長962・2キロの中ハ石油パイプラインは、2004年9月着工し、05年11月に工事を終えた。西側がカザフスタンのアタス、東は中国新疆ウイグル自治区の阿拉山口を結び、年間輸送能力は設計ベースで2千万トン。中カ両国が共同で、パイプラインの建設費7億ドルを提供した。

  両国間の合意によると、パイプラインの稼動当初の年間輸送量は1千万トンで、2010年までに2千万トンに増やす。カザフスタンとロシアは、原油輸送量の半分ずつを提供する。 

China Chemical Reporter 2005/8/19

CNOOC Fixes Eyes on Woodside

Along with the competitive bidding of Unocal by CNOOC Ltd., China's competent authorities were stepping up to obtain resources and experience in management, technology and brands from Australia. It was reported CNOOC possibly set Woodside, the Australian largest petroleum enterprise as the next target of requisition. Once the purchasing plan be put into force, the whole procedures for CNOOC's competitive bidding of Unocal would be made once again. The Government of Australia would also play an important role in it.

Woodside 　http://www.woodside.com.au/Home.htm

Woodside is Australia's largest publicly traded oil and gas exploration and production company with a market capitalisation of more than A$14 billion (at December 2004).

Woodside operates the North West Shelf Venture, Australia's largest resource project. It also operates more than 75 joint ventures on behalf of 39 participants in Australia, Africa and the United States.

The company sells liquefied natural gas, natural gas, crude oil, condensate and liquid petroleum gas around the world.

With proved plus probable reserves of more than 1.3 billion barrels of oil equivalent, Woodside produces nearly 60 million barrels of oil equivalent a year.

The company was formed in 1954 and has its headquarters in Perth, Western Australia. It has more than 2500 staff.

「人民網日本語版」2005年8月23日

中国石油天然気、ペトロカザフスタンを買収

　中国石油天然気集団公司（中国石油）は22日、100％出資子会社・中油国際工程公司を通じて、カザフスタンに権益をもつカナダの石油会社・ペトロカザフスタンを41億8千万ドルで買収したことを明らかにした。

　ペトロカザフスタンはカナダに本社を置く国際石油会社で、カナダ、米国、英国、ドイツ、カザフスタンで株式上場している。油田、天然ガス田、石油精製工場など全資産がカザフスタン国内にあり、原油生産能力は年間700万トンを越える。

　中国石油責任者によると、中国石油はすでに、カザフスタンの政府や石油会社・カザフスタン国家石油天然ガスとの間で、利益共有を基礎とする良好な提携関係を築いており、投資と技術提携を通じて、カザフスタンの石油工業や現地の経済発展に積極的に貢献している。国際市場のルールによるペトロカザフスタン買収は、中国石油の国際発展の要請による選択であり、カザフスタンでの石油・天然ガスをめぐる協力拡大を進めるための選択でもある。

FujiSankei Business i. 2004/11/2

シノペック、イランから石油・ガスを輸入　３０年間、７００億ドルで契約

　中国の石油業界最大手、中国石油化工（シノペック）は、イラン政府との間で、今後３０年間にわたり石油・天然ガスの供給を受けることで合意し、総額で７００億ドル（約７兆７０００億円）の契約の覚書に調印した。

　調印内容は、シノペックが今後３０年間にわたり毎年２億５０００万トンの液化天然ガスを購入するほか、イランのヤダバラン油田 Yadavaran oilfield の開発権を得るというもの。

　さらに、同油田の開発が成功した場合、中国側は２５年間にわたって、毎日１５万バレルの原油の供給を受けることでも合意している。

The Yadavaran oilfield, one of the world's largest undeveloped oilfields, would have a total production capacity of around 300,000 barrels per day (bpd) and Iran would export half of this volume to China in the future based on the contracts to be signed by Sinopec and the National Iranian Oil Company.

Yadavaran is a new name for both Koushk and Hosseiniyeh oil fields whose oil reserves were initially estimated at 9 bn and 1.5 bn barrels, respectively.
Later it was discovered that various formations of the two fields were connected and they were renamed Yadavaran.
(イラク国境に近い南西部フゼスタン州で2000年と2002年にそれぞれ発見されたクシュック油田、ホセイ二−油田)

ヤダバラン（Yadavaran）プロジェクトに関しては、2004年7月、イラン石油省は、イラク国境に近い南西部フゼスタン州で2000年と2002年にそれぞれ発見されたクシュック油田、ホセイ二−油田の２油田が、油田探査の結果、原始埋蔵量170億バレル、可採埋蔵量は少なくとも30億バレルを有する同一構造の巨大油田（ヤダバラン油田と命名）であることが確認されたと発表された。

日本経済新聞　2005/9/13

中国、パイプライン網強化　原油調達の安定狙う

　中国はパイプラインによる周辺国からの原油輸入を強化する。

　国有石油大手、中国石油化工(シノペック)はミャンマーから雲南省昆明を経由して重慶に至る原油パイプラインを建設する計画。

　中国石油天然気(ぺトロチャイナ)はカザフスタンと新彊ウイグル自治区を結ぶ全長１２４０キロメートルの原油パイプライン建設に着手しており年内に完成させる。

サーチナ・中国情報局 2005/8/17

【中国】「ミャンマー・雲南・重慶油送管構想」実現性高まる

　中国石油化工集団公司（中石化、シノペック）傘下の雲南石油探査局とMOGE（ミャンマー国営石油・ガス公社）は、ミャンマーとの初の石油・天然ガス探査共同事業を開始した。中国の3大石油会社、中国石油天然気集団（中石油、ペトロチャイナ）、中国海洋石油（中海油）、シノペックによる、ミャンマーでの石油開発事業が全面的に展開されることになる。専門家は、両国の石油会社の提携が進むにつれ、「ミャンマー−雲南−重慶原油パイプライン構想」が現実味を帯びてきたと分析している。16日付で北京晨報が伝えた。


　「ミャンマー−雲南−重慶原油パイプライン構想」は、ミャンマーのSittweから雲南省・昆明（こんめい）市まで原油パイプラインを建設し、その後昆明から重慶（じゅうけい）市まで延長するというもので、重慶市政府とシノペックにより、2004年末に国務院に提出されている。

日本経済新聞　2005/9/18

シノペックと上海宝鋼が提携

　中国の石油化学最大手、中国石油化工(シノペック)と鉄鋼最大手の上海宝鋼集団が戦略提携協定に調印した。新素材の開発や販売などで両社が協力、総合素材集団を目指し自動車メーカー向けなどに販売を拡大する。協定によると両社は新製品や研究開発、マーケティング、購買など広範に協力する。シノペックが製油所や原油タンク、石油パイプラインを建設する際には上海宝鋼から鋼材を優先的に調達する。

2005-08-16 SINOPEC

SINOPEC and Baoshan Iron & Steel Group Sign Agreement of Strategic Cooperation
http://english.sinopec.com/en-newsevent/en-news/2700.shtml

The signing ceremony of cooperation agreement between Sinopec and Baoshan Iron & Steel Group was held in Beijing on Aug.11.

Sinopec and Baoshan Iron & Steel Group both are extra large enterprises in key fields of national economy. And there is a rosy future for cooperation when both sides are to be further stronger and larger. Through establishing strategic cooperation relationship, the cooperation in technology, business and information with the principle of “equity and trust, sharing risks, pooling of interest, benefiting mutually and collaborative development” will step into a new stage.

The two groups have been maintaining a good relationship of cooperation for a long time. In the new situation of the ever-expanding internationalization of economy and the more and more fierce market competition, large enterprises could confront challenges jointly, establish market and benefit mutually through establishing stable relationship of strategic cooperation between them.

日本経済新聞　2005/11/2

カザフ油田権益　中ロ石油大手、陣取り合戦　政府の資源戦略背負う


　焦点の一つがカザフの油田会社「ノース・ブザチ」。同社にはルークオイルヘの身売りが決まったカナダの石油会社が５０%、CNPCが５０%を出資しているが、CNPCは出資比率を１００%に引き上げる方針を先週、カナダの会社に伝えた。
　もう一つは「ツルガイ・ペロリアム」　CNPCの買収したぺトロカザフスタンとルークが５０%ずつを出資する油田合弁会社だが、ルークがツルガイの全株を優先取得できる契約を結んでいたと主張。ペトロカザフと買収交渉に入った。

North Buzachi
http://www.nelsonresources.com/NR/1_oil_gas/north_buzachi.htm

In December 2003 Nelson Resources Ltd. purchased 35% interest belonging to Nimir Petroleum Buzachi BV from CNPC. Later in February 2004, Nelson purchased an additional 15% belonging to Texaco North Buzachi Inc, bringing its share of the North Buzachi Field to 50%.

Following the acquisition of 50% of the North Buzachi field by Nelson Resources, Nelson Resources and CNPC have formed a joint operation company to operate the field (Buzachi Operating Limited). Buzachi Operating Limited, has a core national workforce inherited from ChevronTexaco and is managed equally by Nelson Resources and CNPC employees seconded to the joint venture. It is therefore well staffed to fast track the development of the field.

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Nelson Resources Limited
http://www.nelsonresources.com/NR/corp.htm

Nelson Resources Limited (TSX:NLG) is a leading independent exploration and development company operating in Kazakhstan.

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October 19, 2005

LUKOIL OVERSEAS ACQUIRES APPROXIMATELY 65% OF THE ISSUED AND OUTSTANDING COMMON SHARES OF NELSON RESOURCES
http://www.nelsonresources.com/NR/2_news/2005_10_19.htm

Nelson Resources Limited (“Nelson”) of Bermuda (TSX/AIM: NLG) previously announced that it had entered into a definitive agreement with LUKOIL Overseas Holding Ltd. (“Lukoil”) dated October 13, 2005 to effect an amalgamation between Nelson and a wholly-owned subsidiary of Lukoil. On the effective date of this amalgamation, all issued and outstanding common shares of Nelson on a fully diluted basis will be exchanged for US$2 billion in cash, resulting in a payment to shareholders of approximately US$2.1916 per fully diluted share.

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October 28, 2005 - Nelson Resources

NELSON RESOURCES LIMITED ANNOUNCES
CNPC INTENTION TO ASSERT PRE-EMPTION RIGHTS AT NORTH BUZACHI

Nelson Resources Limited (“Nelson”) of Bermuda, a leading oil exploration and production company operating in Kazakhstan, announces that it has been informed by China National Petroleum Corporation (“CNPC”), the Company’s joint venture partner on the North Buzachi oil field, that CNPC intends to take the necessary measures to exercise its pre-emptive right under the North Buzachi Joint Operating Agreement to acquire the Company’s 50% interest in the North Buzachi field, following the purchase by Lukoil Overseas Holding Ltd. (“Lukoil”) of a 65% controlling interest in the Company.

Nelson takes the position that no such pre-emptive right exists in the current circumstances.

2006/1/7　Asia Chemical Weekly

China government approves two large-scale ethylene projects

Recently, China government has approved two large-scale ethylene projects, the one is PetroChina’s Chengdu project, and another is a Sinopec’s Tianjin project.

PetroChina's Chengdu integrated petrochemical complex to be located at Pengzhou Chengdu City, Sichuan Province. The project is a 51:49 jv between PetroChina and the Chengdu local government. 四川省成都市の北西約40kmの彭州

The total investment is about USD2.47 billion (RMB 20 billion), it includes an 800,000-t/a cracker and downstream units, while the details of downstream units are not disclosed. The project is expected to starts-up by 2008.

The naphtha feedstock for the Chengdu ethylene project will be transported by railway from PetroChina's refineries in Gansu province and Shaanxi Province.
The completed pipeline will be used for gasoline and diesel oil.

At the same time, Sinopec Tianjin Petrochemical Co has got the final nod from the Chinese government for its 1 million-t/a ethylene cracker project in Dagang district, Tianjin City.

The Tianjin project is wholly owned by Sinopec, it will cost USD 2.48 billion (Rmb20.1), and the project is also expected to come on stream in 2008. Naphtha feedstock would be sourced from the nearby refinery; Sinopec also has a plan to expand the existing refinery capacity to 12.5 million-t/a in Tianjin. Currently, the details of downstream units cannot be confirmed.

Tianjing United Chemical Co. has changed its name to Sinopec Tianjing Pertrochemical Co, it is the operator of this new project.

Sinopec Tianjin Petrochemical has an existing 5 million tonne refinery and 200,000 tonne ethylene plant. The refinery will be expanded by 7.5 million to 12.5 million-t/a; the 1 million-t/a ethylene project is new added.

2006-01-05 China Daily　　　　　　　　　　　　　　　　　Dow　MEG技術導入

Sinopec wins approval for Tianjin complex
http://www2.chinadaily.com.cn/english/doc/2006-01/05/content_509444.htm

The country's biggest oil refiner Sinopec got the government's go-ahead to build a US$3.1-billion petrochemical complex in North China's port city of Tianjin.

"We received the approval from the State Council on December 21," an official responsible for Sinopec's corporate planning said yesterday, declining to be named.

The Tianjin project, to be completed by 2008, includes a 1 million ton per year ethylene cracker, a refinery able to process 12.5 million tons of crude oil a year, and other facilities to produce petrochemical products such as polyethylene and polypropylene.

Total investment of the project is expected to exceed 25 billion yuan (US$3.1 billion), which will be wholly owned by Sinopec, said an unnamed official from the Tianjin Municipal Development and Reform Commission.

To cash in on the market, Sinopec's domestic rival PetroChina is also talking with Tianjing city to build a similar-sized petrochemical complex including refining and ethylene production facilities near Sinopec's plant, said Zhang from the Tianjin Development and Reform Commission.

「人民網日本語版」2006年1月6日

中国石油化工のエチレン工場事業、着工へ

中国石油化工株式公司が天津に年間生産規模100万トン級のエチレン加工工場を建設するプロジェクトがこのほど国務院の承認を受け、まもなく着工する。2008年中に完工し、生産を開始する予定。

工場完成に伴い、同社天津支社のエチレン関連製品の生産規模は年間120万トン、石油精製総合加工能力は年間1250万トンに達する見通し。同プロジェクトは、天津で最大の工業事業に当たる。

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「人民網日本語版」2006年6月27日

中国最大級のエチレン精製施設、天津で着工

中国最大級のエチレンプロジェクトである、中国石油化工株式公司・天津分公司（支社）の年産100万トン規模のエチレン精製施設が、国務院の認可を受け、26日午前に天津浜海新区の大港石油化学基地で着工した。

完成予定は2009年。同施設は、1,250万トンの石油精製能力、120万トンのエチレン生産能力を一体化した生産拠点の1つとなる。高品質、高規格かつ多様な石油製品、石油化学製品、化学繊維製品を年1,200万トン生産できる。プロジェクトの着工は、大型エチレン生産基地を独自建設する能力が中国にあることを示すものだ。

プロジェクトの内容には、エチレン生産施設の建設、石油精製施設の改造、火力発電所の改造が含まれる。プロジェクトは「地域化、大型化、一体化、専門化」のモデルに沿って進められる。全体のバランスを考慮しながら、施設の配置をコンパクトにまとめ、生産プロセスの短縮、資材の内部相互供給、用地の集約的利用、投資節約、コストダウンなどを実現している。建設用地には荒廃したアルカリ土壌の地を選び、工業用水の増加分は、海水の淡水化や水の再利用でほぼまかなう。また、国内外の進んだクリーン生産技術や効率性の高い設備を採用し、汚染物の分類処理や廃棄物の総合利用を強化して、節約型、生態型かつ環境配慮型の生産工程を実現する。同プロジェクトはさらに、エチレン生産設備の国産化プロジェクトの側面も持つ。同分野での国産化水準の向上を図り、設備製造業の進歩や、川下分野である石油化学工業の発展を促すことになる。

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Platts 2006/6/27

Sinopec launches Tianjin refining, petrochemical expansion plan

China Petroleum and Chemical Corp on Monday held a foundation laying ceremony in northern Tianjin municipality to mark the launch of a Yuan 25 billion ($3.13 billion) refinery and ethylene production expansion program by its subsidiary Sinopec Tianjin Company, the New York- and Hong Kong-listed Chinese integrated oil group said on its website Tuesday.
Key refining development projects under the program include building a 10 million mt/year (200,000 b/d) crude topper with vacuum distillation unit, 2.3 million mt/year delayed coker, 1.8 million mt/year hydrocracker, 3.2 million mt/year gasoil hydrofining unit, 1.2 million mt/year hydrotreating unit for waxy oil, 260,000 mt/year sulfur recovery unit, among others.
STC currently operates two sets of crude toppers with vacuum distillation units of 2.5 million mt/year each, 1.2 million mt/year catalytic cracker, 800,000 mt/year hydrocracker, 400,000 mt/year hydrofining unit, and 150,000 mt/year desulfurizer.
Plans for petrochemical capacity expansion include building a 1 million mt/year ethylene plant, which will eventually raise STC's annual ethylene production capacity from the existing 200,000 mt to 1.2 million mt. The group also plans to build a 600,000 mt/year gasoline hydrocracker, a 300,000 mt/year low-density polyethylene unit, a 300,000 mt/year high-density polyethylene unit, a 450,000 mt/year polypropylene unit and other downstream petrochemical production plants.

Sinopec Tianjin Petrochemical Corporation
http://english.sinopec.com/en-company/en-subsidiaries/en-refiningbranch/en-tianjin/1166.shtml?cid=204&aid=1166

SINOPEC Tianjin Company is a state-owned super-large complex of oil refining, ethylene, chemical and chemical fiber production. It is located at Beiweidi Road (West) No.160, Dagang District of Tianjin. Encompassing 13.24 KM2 land area, it is west to Bohai Bay and north to Dagang Oilfield. It possesses superior geographical position which is convenient for sea and land transportation, linked by railways and highways to the urban city and Tianjin Port as well as oil-conveying pipelines to Dagang Oilfield and Nanjiang Petrochemical Quay in Tianjin Port.
It has 13 oil refining units, 8 chemical production units and 5 chemical fiber units.
The processing capacity of crude oil has achieved 5 million MT/Y, ethylene 200,000MT/Y, PX 380,000MT/Y, PTA 300,000MT/Y, polyester 270,000MT/Y, polyester fiber 160,000MT/Y and polyester filament 90,000MT/Y.
Crude oil stock may reach up to 800,000M3. The company possesses its own dock in Tianjin Port with berths of 150,000 tons, 50,000 tons, 30,000 tons and 15,000 tons. The annual crude oil handling capability amounts to 18 million tons.

Main products of the company include over 70 varieties covering the products of more than 200 specifications, such as clean automobile gasoline, kerosene, jet fuel, diesel, LPG, heavy fuel oil, asphalt, petrol coke, para-xylene, purified terephthalic acid, petrobenzene, ethylene, polyethylene, polypropylene, ethylene oxide, ethylene glycol, polyether, polyester chips, polyester filament and polyester fiber, etc.. The company has established a very good reputation in the market.

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Brief Introduction of Tianjin Petrochemical Corporation
http://www.tpcc.com.cn/erji/ywbb.html

Sinopec Tianjin Petrochemical Corporation is located in Dagang District of Tianjin New Coastal Area, situated on the Bohai coast with a beautiful environment, holding the key position between Beijing, Hebei and Shandong, possessing convenient transportation system including road, railway, waterway and air. In the north of the plant area, there is Tianjin South Ring railway which links two rail arterys of Jing-Shan and Jin-Pu; In the East, there are Xian-Qi and Gang-Tang roads; in the west, there is Jin-Zi road, and the Jin-Gang road is in the north. It is only about 40 kilometers away from Tianjin Airport.

Production Plants and capacity
Chemical section: It has Aromatics Complex with capacity of 600, 000 t/y reformer and 250,000 t/y PX, PTA plant with capacity of 300, 000 t/y and Polyether Polylol plant with capacity of 43, 000 t/y.

Chemical Fibre Section: It has Polyester Plant with capacity of 200, 000 t/y; PET Staple Fibre Plant with capacity of 100,000 t/y; PET Filament Plant with capacity of 90,000t/y FDY and POY; Film-grade Chips Plant with capacity of 80,000 t/y and Pilot Plant with capacity of 2000 t/y differential staple fibre.

Ethylene section: It has Ethylene Plant with capacity of 200,000 t/y; Polyethylene Plant with capacity of 120,000 t/y; Polypropylene Plant with capacity of 60, 000 t/y; EO Plant with capacity of 22, 000 t/y and EG Plant with capacity of 48, 000 t/y.

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ChinaOilWeb 2001/7/3

PetroChina to Complete Oil Products Pipeline in June 2002
http://www.chinaoilweb.com/asp/content/show.asp?Master_id=2488&Type_id=11&feed_type=1

PetroChina Co. Ltd. expects to complete a 1,247-km oil products pipeline by June 2002.
The line starts from Lanzhou, the capital of northwestern China's Gansu province, and will end in Chongqing city via Chengdu, the capital of Sichuan province in southwest.
The Sichuan section of the pipeline (from Chengdu to Chongqing) began construction in July last year. Work on the remaining portion will start this year.

The line will move oil products produced by PetroChina's Lanzhou Petrochemical Corp. to markets in Yunnan, Guizhou, and Sichuan provinces and Chongqing City.
Demand in those areas reached 7.8 million tonnes at end 2000, but only 200,000 tonnes of oil products were produced in the region.
The company hopes the pipeline will help raise the operation rate of Lanzhou Petrochemical, while easing the supply squeeze in the southw

Platts 2006/7/28

Sinopec launches trial runs at 160,000 b/d Hainan refinery

Chinese state-owned giant Sinopec Friday began trial runs at its 8 million mt/year (160,000 b/d) greenfield refinery and petrochemical complex in China's southern island province of Hainan.

The complex has 15 refining and petrochemical units including an 8 million mt/year crude distillation unit, 2.5 million mt/year vacuum distillion unit, 2.8 million mt/year heavy oil catalytic cracker, 1.2 million mt/year continuous reformer, 2 million mt/year gasoil hydrogenation unit, 300,000 mt/year jet fuel hydrogenation unit, 60,000 mt/year gas fractionation unit, as well as facilities producing isomers, polypropylene, and MTBE.

China Chemical Reporter 2006/11/30

Sinopec Starts up 80 000 T/A Styrene Unit

On November 15th, 2006 the 80 000 t/a ethyl benzene/styrene monomer unit put on stream in Hainan Shihua Garson Chemical Co., Ltd. in Hainan province. Hainan Shihua Garson Chemical Co., Ltd. is jointly funded by Hainan Shihua Refining and Chemical Co., Ltd. and Jiangsu Garson Chemical Industrial Co., Ltd. It is released that the unit is the first extension project for the chemical industrial chain of Sinopec Hainan Refining & Chemical Co., Ltd. (HRCC). After completion, the industrial chain will be extended further to downstream operations and a capacity of 100 000 t/a polystyrene will be developed.

Dec 01, 2008 (SinoCast Daily Business Beat via COMTEX)

Sinopec Can Produce 10.7mn-ton Ethylene in 2012

China Petrochemical Corporation (Sinopec Group), the biggest crude oil processing giant in China, announces that its ethylene productive capacity has reached 6.295 million tons in 2008 and will possibly hit 10.7 million tons by 2012.

Sinopec Group has seen a fast growth in its ethylene capacity in the past decade. It just could produce 2.575 million tons in 1998, compared with 3.772 million tons of the national capacity, which just reaches 10 million tons or so this year.

Notably, 70% of ethylene production devices owned by Sinopec Group are China-made. The group can use self-developed technologies to build 1-million-ton-class ethylene production device.

The group has set up three petrochemical industrial base clusters in the Yangtze River Delta, the Pearl River Delta and the Ring Area of Bohai Sea. Three 1-million-ton bases and two 800,000-ton bases are there. Moreover, three new bases are under construction now.

Estimates say that China will demand 25 million tons of ethylene by 2010 while the real productive capacity of the country will just hit 14.5 million tons.

日本経済新聞　2010/10/2

シノペック、ブラジルで5800億円出資
　石油権益拡大狙う

　スペインの石油大手レプソルは1日、ブラジル子会社が、中国石油化工(シノペック)から40%の出資を受けると発表した。出資額は71億ドル(約5800億円)と、中国の石油会社による海外企業のM&A(合併・買収)では最大規模。中国は経済成長に伴って石油需要が急増しており、南米や豪州での権益拡大を急いでいる。
　レプソルのブラジル子会社であるレプソル・ブラジルが新株を発行し、シノペックが引き受ける。残り60%はレプソルが引き続き保有する。
　増資後の資産規模は南米の石油会社では最大規模になり、出資金を元手に、グアラ鉱区など大規模な原油採掘を加速する。
　南米は未開発の油田も多く、シノペックは南米で利用可能な原油埋蔵量を増やす。
　中国の石油会社による海外企業買収はシノペックによるスイスのアダックス石油の買収が72億ドルで最大だった。今回はこれに次ぐ規模になる。
　シノペックは中国石油天然気(ペトロチャイナ)に次ぐ中国2位の石油大手。

　中国勢では今春、大手の中国海洋石油(CNOOC)がアルゼンチンの石油会社ブリダスヘ50%出資するなど、海外石油会社への出資を増やしている。

BPは中国海洋石油有限公司(CNOOC)との間で、アルゼンチン最大の原油輸出企業でチリ及びボリビアに石油・ガス資産を持つPan American EnergyのBP持ち株（60%）の大半をCNOOCに売却する方向で交渉を進めていると伝えられている。この価値は 90億ドル程度とされている。

Pan American Energyの残り40%はBridasが所有する。

Bridasはアルゼンチンのカルロス・ブルゲロン氏傘下のBridas Energy Holdings の子会社であったが、2010年3月にCNOOCはBridasの株式50%を31億ドルで購入、現在は、Bridas Energy Holdings 50%/CNOOC 50%となっている。

CNOOC Ltd. will form a 50%/50% joint venture with Bridas Energy Holdings Ltd in Bridas Corporation.
CNOOC and BEH will jointly make management decisions for Bridas.
Bridas is a holding company with a 40% interest in Pan American Energy, the second largest Argentine E&P company that is jointly owned by Bridas and BP.

Oct 5, 2010

Sinopec pays $7.1B to access to Repsol's Brazilian offshore assets

In China’s ongoing quest for energy assets, Sinopec, one of the world’s largest oil companies, plans to invest $7.1 billion to buy into oil-rich Brazil via an alliance with Spain’s Repsol. The deal would create one of Latin-America’s largest private energy companies, valued at $17.8 billion.

Together, Sinopec and Repsol will develop the projects of Repsol Brasil, the upstream subsidiary of Repsol in Brazil whose assets, including those in the Guara and Carioca pre-salt basins, are currently valued at US$10.67 billion. Repsol, currently the largest foreign owner of exploratory blocks in Brazil, will retain 60% of the resulting company and Sinopec, China’s second largest oil company, will have a 40% stake.

Brazil’s offshore boasts one of the world’s fastest-growing oil and gas reserves. Sinopec is targeting production of 200,000 barrels per day oil equivalent from the mostly offshore blocks. 

Guara is estimated to hold 1.1 billion to 2 billion barrels of recoverable oil, and, while no production estimates have been reported, Carioca is also considered a promising field.

For Repsol, the deal means access to capital needed to fund its offshore projects near Rio de Janiero and Sao Paulo.

“We are very pleased to share the development of Repsol’s Brazilian projects with an internationally renowned and experienced partner as is Sinopec.” said Repsol Chairman Antonio Brufau.

The deal, subject to approval, marks China’s largest international oil and gas investment in 2010. Last year, Sinopec paid $7.5 billion to acquire oil and gas explorer Addax Petroleum to gain access to reserves in Iraq and offshore West Africa. According to Sinopec, the company is developing almost 50 projects in 20 countries.

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Sinopec, one of the world’s largest oil companies, will invest $7.1 billion

Repsol and Sinopec form an alliance in Brazil to create one of Latin-America's largest private energy groups, valued at $17.8 bln

• Repsol Brasil will carry out a capital increase worth more than $7.1 billion, which Sinopec will subscribe in its entirety, resulting in a company valued at $17.8 billion. 
• The company will be one of Latin-America’s largest privately-owned energy companies. Repsol will retain 60% of the resulting company and Sinopec, China’s second largest oil company, will have a 40% stake.
• With this new investment, Repsol Brasil is fully capitalized to develop all of its current projects in Brazil, including world class discoveries in the Guara and Carioca pre-salt basins.
• Repsol and Sinopec will continue their respective expansion plans in Brazil and will participate, jointly or individually, in future bidding rounds in the area.
• This transaction between two world class groups bears testimony to the value of the exploratory activity carried out by Repsol in Brazil in the last few years. 
• “We are very pleased to share the development of Repsol’s Brazilian projects with an internationally renowned and experienced partner as is Sinopec. Together we can help expand business relations between our countries,” said Repsol Chairman Antonio Brufau.
• Sinopec is the largest petroleum and petrochemicals company in China and has oil and gas exploration and production projects in more than 20 countries.
  

Press Release

1 October 2010 08:34 CET

Repsol and China’s Sinopec have entered into an agreement to jointly develop the projects of Repsol Brasil, the upstream subsidiary of Repsol in Brazil, creating one of Latin America’s largest energy companies, valued at $17.773 billion.  

Repsol Brasil’s assets are currently valued at US$10.664 billion. Under the terms of the agreement, Repsol Brasil will increase its share capital by issuing new shares to which Sinopec will fully subscribe. On completion of the transaction, Repsol will hold 60% of the shares of Repsol Brasil while Sinopec will hold 40% of the shares.

The injection of funds generated by this transaction will allow Repsol Brasil to fully develop all of its current projects, which include some of the world’s largest exploratory discoveries in recent years.
The agreement between Repsol and Sinopec involves full collaboration in the development of the existing projects in Brazil, and allows for both companies to continue expanding their activity in that country jointly or independently.

The agreement is subject to the approval of the competent authorities.
For Repsol Chairman Antonio Brufau “the deal is a good reflection of the value created by the investment of technical, human and material means by Repsol in exploration, particularly in Brazil’s pre-salt offshore in the last few years.”

“We are very pleased to share the development of Repsol’s Brazilian subsidiary with an internationally renowned and experienced partner as is Sinopec. Together we can help expand business relations between our countries,” Brufau added. 

Brazil’s offshore boasts one of the world’s fastest-growing oil and gas reserves. The deal highlights the enormous international interest in this historic moment for Brazil, and particularly for the Santos Basin pre-salt activity led by Petrobras.

Repsol in Brazil

Repsol is one of the largest independent upstream operators in Brazil and the country’s third-largest oil producer in 2009. It is the largest foreign owner of exploratory blocks, with presence in the Santos, Campos and Espiritu Santo Basins. Repsol has a strategic presence in Brazil’s pre-salt areas with the most potential, and together with Petrobras and BG Group is leading exploration in the prolific Santos basin.
The company’s diversified projects portfolio includes a producing field (Albacora Leste) and eight discoveries as well as other exploratory projects and identified areas of potential. 

December 10, 2010

Occidental Petroleum to Divest Argentine Assets, Purchase New U.S. Assets, Increase Dividend

• Argentine Assets Divested
• New U.S. asset acquisitions in South Texas, North Dakota; Additional 13% interest in Plains All-American (PAA) General Partner; 50% JV interest in Elk Hills Power Plant
• 21% dividend increase

Occidental Petroleum Corporation today announced it has executed an agreement with a subsidiary of China Petrochemical Corporation (Sinopec) to sell Occidental’s Argentine oil and gas operations for after-tax proceeds of approximately $2.5 billion.

Occidental also announced that it had executed agreements to purchase oil and gas properties in South Texas and North Dakota for about $3.2 billion. Additionally, Occidental announced that it has signed an agreement to increase its General Partner (GP) ownership in Plains All-American to approximately 35 percent; and it has agreed to acquire the remaining 50 percent joint venture interest in the Elk Hills Power Plant.

Occidental expects all of these transactions to be completed no later than the end of the first quarter of 2011, subject to normal regulatory approvals.

"These transactions will be immediately accretive to our earnings, return on capital employed and cash flow after capital. With these new acquisitions and without Argentina in our asset mix, achieving both our short-term and long-term average annual production growth outlook of 5-8 percent will be more certain and will generate higher returns,” said Dr. Ray R. Irani, Chairman and Chief Executive Officer of Occidental Petroleum Corporation.

“These properties, combined with acquisitions completed earlier this year, will more than replace the production from the sale of Argentina. We expect that each of these new acquisitions together with future drilling, potential exploration and consolidation opportunities in these areas, over time, will grow to over 50,000 barrels of oil equivalent per day (BOEPD).”

“In light of our outlook for improved free cash flow, the Board has agreed to increase our common dividend rate by 21 percent from 38 cents per quarter to 46 cents per quarter effective with the April 15th payment. The formal dividend declaration will be made by the Board of Directors in February," said Dr. Irani.

The South Texas assets will be purchased from Shell for about $1.8 billion and currently produce approximately 200 million cubic feet per day of gas equivalent. Shell has owned and operated the properties for many years. The assets will be 100 percent operated by Occidental and have an excellent inventory of drilling opportunities.

Occidental is purchasing, from a private seller, approximately 180,000 net contiguous acres in North Dakota which produce from the Bakken formation and are prospective in the Three Forks formation. The purchase price is approximately $1.4 billion. The assets currently produce approximately 5,500 BOEPD and Occidental’s net risked reserve exposure is in excess of 250 million barrels of oil equivalent. Combined with Occidental’s other interests in the Williston Basin, Occidental will have an interest in over 200,000 net acres and over 6,000 BOEPD of production. Occidental expects to grow production in the Williston Basin to at least 30,000 BOEPD over the next five years.

Occidental is purchasing an incremental 13 percent ownership in PAA’s general partner, bringing its total ownership in the GP to approximately 35 percent. PAA’s operations compliment Occidental’s domestic oil and gas operations. Plains is one of the largest operators of oil pipelines in North America with operations in Texas, California, and North Dakota, among other areas.

In addition, Occidental is purchasing Sempra Generation’s 50 percent interest in the Elk Hills Power Plant, bringing Oxy’s ownership to 100 percent. This will improve efficiency and lower operating costs at Oxy’s Elk Hills business unit.

Occidental’s Argentine assets being divested currently produce approximately 44,000 BOEPD net to Oxy. When the transaction closes, Occidental expects to report a gain on the sale.

The company will finance the acquisitions from both existing balance sheet cash and debt financing.

torontostar.morningstar.ca

Oxy plans to sell its Argentina assets, which include current production of 44,000 barrels of oil equivalent production per day and 130 million boe of proved reserves to a subsidiary of China Petrochemical Corporation (Sinopec) for aftertax proceeds of about $2.5 billion. Given government regulations that limit profits from oil production and discourage investment, Oxy's opportunities in the country probably did not match returns of its other international or U.S.-based projects. Based on our estimates, we believe Oxy generated an attractive valuation for its assets. We estimate Sinopec paid Oxy about $19 per boe and $57,000 per flowing barrel compared with the $8 and $52,000, respectively, that CNOOC recently paid for BP's BP 60% stake in Argentine oil and gas company Pan American Energy.

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Bloomberg

Occidental is exiting Argentina amid price controls on gas that make it harder to earn profits in Latin America’s second- largest economy, Weiss said.

Occidental acquired the Argentine fields when it bought Vintage, along with assets from the Gulf of Mexico to Yemen. The company got 49 percent of its net daily oil production and 58 percent of its gas from the U.S. during the first half of this year, according to company data. Argentina contributed about 5 percent of worldwide output.

October 14, 2005

The Occidental Petroleum Corporation, the oil producer, agreed On Oct.13, 2005, to acquire its smaller rival, Vintage Petroleum, for about $3.52 billion, as it seeks to expand in Latin America and California.

It’s the first investment in Argentina’s oil and gas industry for the Chinese refiner, known as Sinopec Group. The fields produced more than 51,000 barrels of oil equivalent a day last year and held 393 million barrels of proven plus probable reserves as of the end of 2009, according to Sinopec.

Jun 17, 2011 SinoCast Daily Business Beat

Sinopec to Build Largest Integrated Project for Oil Refining

China Petrochemical Corporation(Sinopec Group), a super-large petroleum and petrochemical enterprise group in China, has reached an agreement with Jiangsu Provincial Government to build the largest integrated project for oil refining with an annual capacity of 32 million tons in Lianyungang's Xuwei Port Area. 江蘇省連雲港市徐ウ新区
After the completion of this project, with a total investment estimated to surpass CNY 100 billion, Sinopec Group will be China's first oil refining company with an annual capacity of over 30 million tons, which is expected to rank in the top five companies among the global oil refining enterprises.
The project will be divided into two phases: The first phase includes the oil refining project with an annual capacity of 12 million tons and the PX project with an annual capacity of 1 million tons. The second phase includes the oil refining project with an annual capacity of 20 million tons and the ethylene project with an annual capacity of 1 million.
"Jiangsu is an advantageous region for Sinopec Group since it has its own harbor and sufficient land, which could facilitate the construction of integrated projects for oil refinery." A managerial person working for Lianyungang local government told National Business Daily.

中国国務院は2011年5月31日、江蘇省連雲港市に「国家東・中・西部地域協力モデル地区」を設立することを認可した。
同計画は、連雲港市徐ウ新区をパイロット地区として、地域協力モデルの刷新を図る。
重点構築対象は現代物流サービスエリア、産 業協力エリア、ビジネスサービスエリア、科学技術・人材サービスエリア、生態エリアの5大エリア。
海路の利便性向上、協力サービスシステムの構築、産業協 力基地の建設、協力体制の刷新に力を入れ、東・中・西部地域の科学的発展を推進する体制づくりに取り組み、10年後をめどに中西部地区の対外開放における 重要な窓口、東中西産業提携に向けたモデル地区、地域協力体制に向けた試験地区を完成させる計画。

The State Council has approved a scheme to set up a demonstration zone in Lianyungang city in Jiangsu Province to enhance economic cooperation among the country's east, central and western regions, China's top economic planning body said on Thursday.

中西部地域の発展を見据えた同計画は、連雲港市徐ウ新区をパイ ロット地区として、地域協力モデルの刷新を図る。重点構築対象は現代物流サービスエリア、産業協力エリア、ビジネスサービスエリア、科学技術・人材サービ スエリア、生態エリアの5大エリア。海路の利便性向上、協力サービスシステムの構築、産業協力基地の建設、協力体制の刷新に力を入れ、東・中・西部地域の 科学的発展を推進する体制づくりに取り組み、10年後をめどに中西部地区の対外開放における重要な窓口、東中西産業提携に向けたモデル地区、地域協力体制 に向けた試験地区を完成させる計画。

　同モデル区の管轄エリアには、江蘇省連雲港徐ウ新区、連雲港経済技術開発区、 連雲港国際ビジネスセンター、連雲港区・連雲港保税物流センターが含まれ、うち徐?新区をパイロット地区。モデル地区の設立は▽新ユーラシアランド・ブ リッジ（アジア横断鉄道）の東端に位置するという地理的な優位性を十分に活かした、複数の地域にまたがる資源の合理的な流動・配置▽東・中・西部地域の比 較優位を活かした、東部・中西部間のより幅広い分野、より高い次元での交流・協力--につながり、中国の調和の取れた地域発展を進めていく上での参考例と なる見込み。

中国とヨーロッパを鉄道によって結ぶ物流ネットワーク「新ユーラシアランドブリッジ」

新ユーラシアランドブリッジ、または第二ユーラシアランドブリッジ、は中国の連雲港市、日照市など港群れからオランダのロッテルダム港まで結ぶ鉄道である。山東省、江蘇省、河南省、安徽省、陝西省、甘粛省、山西省、寧夏省、青海省、新疆自治区を通し、中国とロシアとの国境の阿拉山口にて中国を出る。その後、三つの路線でオランダのロッテルダム港に着ける。全長10900キロで、30余りの国や地区に及んでる。

国連アジア太平洋経済社会委員会（ESCAP）が既に1960 年代に「Trans-Asian Railway Network 構想」を打ち出した。
シンガポールからイスタンブールまでを結ぶ鉄道網構想で，その後欧州やアフリカへ鉄道網を延伸していくもの。

October 9, 2011 Daylight Energy

Daylight Energy Ltd. to be acquired by Sinopec International Petroleum Exploration and Production

Daylight Energy Ltd. is pleased to announce that it has entered into an agreement with Sinopec International Petroleum Exploration and Production Corporation ("SIPC") for the purchase of all of the issued and outstanding common shares of the Corporation at a cash price of C$10.08 per Common Share, for total cash consideration of approximately C$2.2 billion. The transaction is to be completed by way of a plan of arrangement under the Business Corporations Act (Alberta). The consideration offered for the Common Shares pursuant to the Arrangement represents a 43.6% premium over the 60-day weighted average trading price of the Common Shares on the Toronto Stock Exchange up to and including October 7, 2011.
SIPC is a wholly owned subsidiary of China Petrochemical Corporation ("Sinopec Group") and undertakes overseas investments and operations in the upstream oil and gas sector. Sinopec Group is China's largest producer and supplier of oil products and major petrochemical products.
　

The Board of Directors and officers of Daylight intend to vote their respective Common Shares, totaling approximately 6.7 million Common Shares, in favour of the Arrangement, and have entered into lock-up agreements with SIPC pursuant to which they have agreed to, among other things, vote their Common Shares in favour of the Arrangement.

ABOUT DAYLIGHT ENERGY
Daylight is a growing intermediate oil and liquids rich natural gas producing company with a high quality suite of resource play assets in Western Canada. Daylight has approximately 213 million Common Shares currently outstanding which trade on the TSX under the symbol “DAY”. Daylight's Series C and Series D Debentures also trade on the TSX under the symbols DAY.DB.C and DAY.DB.D, respectively.

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Dec 14 2011 Reuters

Sinopec says completes Canada's Daylight Energy buy

China's Sinopec Group, parent of top Asia refiner Sinopec Corp , said it had completed the acquisition of Canadian oil and gas explorer Daylight Energy Ltd for C$2.2 billion ($2.16 billion).

Its subsidiary Sinopec International Petroleum Exploration and Production Corp (SIPC) will get Daylight's assets in 69 oil and gas fields in northwest Alberta and northeast British Columbia via the deal, Sinopec said in a statement late Friday.

"Sinopec will fully utilise the advantage of Daylight's existing management, technology and human resources to further expand and develop its oil and gas business in Canada," the state-owned company said.

In October, SIPC agreed to buy all outstanding shares of Calgary, Alberta-based Daylight for C$10.08 each, more than double the closing price of C$4.59 per share prior to the announcement.

Shares of Daylight, which was listed in Toronto in 2004, closed at C$10.07 on Friday.

November 13, 2011 

Sinopec takes 30% stake in Galp Energia’s Brazilian subsidiary for $4.8B

Galp Energia SGPS SA, a major oil and gas producer in Portugal, operates four offshore blocks in the Santos Basin off Brazil, state-owned Sinopec said.

SACOR, CIDLA, SONAP, PETROSUL, and PETROGAL were the main Portuguese companies from where current-day GALP was born.

In Portugal, PETROGAL was formed in April 1976 from four Portuguese companies —SACOR, CIDLA, SONAP, and PETROSUL — that were nationalized following the revolution of April 1974. Galp Energia's initial public offering on the Lisbon Stock Exchange took place in 2006.

Galp Energia, in partnership with Petrobras, participates in c. 20 projects. The Lula field at the pre-salt Santos Basin(深海の海底の岩塩層の更に下), is the most important project

"The acquisition has further expanded Sinopec's overseas oil and gas business operations and will make major contributions to the company's oil and gas output growth," Sinopec said in a statement.

Galp Energia, which has projects around the world including Brazil, Venezuela, Uruguay, Angola, Mozambique, Swaziland and Gambia, could not be immediately reached for comment.

China's quest for resources is increasingly taking it to South America, as it seeks to shore up access to oil, gas, coal and iron ore needed to fuel the world's second-largest economy and biggest energy consumer.

2010/12/17　Sinopec、Occidental からアルゼンチンの石油権益を買収

Norwegian energy group Statoil also agreed last year to sell 40 percent of the Peregrino oil field off Brazil to China's Sinochem for nearly $3.1 billion.

2010/5/28　中国中化集団、ブラジル油田に30億ドル出資

That followed a move by state-owned China National Petroleum Corp to pay $900 million for access to oil deposits in Venezuela's eastern Orinoco region.

2010/2/15 国際石油開発帝石と三菱商事、ベネズエラで石油開発

Chinese trade with resource-rich Latin America has grown about ten-fold over the past decade as Beijing's search for new sources of raw materials has expanded, while South American purchases of Chinese goods have also climbed.

China's trade with the region reached $183.6 billion in 2010, compared with $121.9 billion in 2009, the latest official figures show.

Chinese investment in Latin America reached $10.5 billion in 2010, up from $7.3 billion in 2009.

2011-11-18 CapitalVue

PetroChina, Sinopec Call For Hike In Windfall Tax Threshold

PetroChina and Sinopec were rumored to have called for the raising of the threshold for the windfall tax on domestic oil and gas production to $70 per barrel, reports Securities Daily.

中国政府は2006年3月26日から、石油採掘企業に対して特別収益金（Windfall-tax）を徴収することを決めた。一般には暴利税と呼ばれている。

原油価格が40ドル/バーレルを超える国産原油を販売する場合に超えた部分について20-40%の税金を課すもので、以下の算式で課せられる。

｛（加重平均販売価格−40）ｘ 下記比率−下記控除額｝ｘ 販売数量

原油価格（US$/bbl）	40〜45	45〜50	50〜55	55〜60	60以上
比率	20%	25%	30%	35%	40%
控除額（US$）	0	0.25	0.75	1.50	2.50

In addition, the two energy giants had suggested the cancellation of other special levies, such as the emissions tax, on the oil and gas sector, and that such charges be imposed as part of the resources tax.

According to guidelines imposed in 2006, oil producers have to pay the special taxes once the oil price hits $40 per barrel.

Taxes collected from the oil companies are used to subsidize downstream industries and the general public hurt by high oil prices, according to the report.

The three biggest oil companies in China paid 88.43 billion yuan of windfall taxes in 2010 as the international price of oil rose.

In the first half of 2011, the amount of windfall taxes paid by PetroChina increased 25.23 billion yuan year-on-year, while the sum paid by Sinopec rose 8.8 billion yuan.

The three oil giants paid a record high of 87 billion yuan of windfall taxes in the first half of 2011.

The National Development and Reform Commission had announced in October that it will expand the scope of the resources tax to the entire country, effective November 1. The tax rates on crude oil and natural gas will be 5-10 percent of the sales value.

Shares of PetroChina fell 1.01 percent to close at 9.81 yuan today.

Resource taxes
This consists of Resource Tax and Urban and Township Land Use Tax. These taxes are applicable to the exploiters engaged in natural resource exploitation or to the users of urban and township land. These taxes reflect the chargeable use of state-owned natural resources, and aim to adjust the different profits derived by taxpayers who have access to different availability of natural resources.

Jan 17, 2012 arabnews　

SABIC, Sinopec ink Riyadh deal to foster petchem investments

The Saudi Basic Industries Corporation (SABIC) and the China Petroleum and Chemical Corporation (Sinopec) have signed a protocol of cooperation in Riyadh to explore new business opportunities.

2011/5/26　SABICとSinopec、天津でポリカーボネート生産　

It also confirms their commitment to the principles reached in earlier agreements, including the deal on polycarbonate collaboration, according to a SABIC statement received here.

Prince Saud bin Abdullah bin Thenayan Al-Saud, chairman of SABIC and the Royal Commission for Jubail and Yanbu, and Fu Chengyu, chairman of the Sinopec Group and the Sinopec Corporation, signed the deal.

China Prime Minister Wen Jiabao and SABIC Vice Chairman and CEO Mohamed Al-Mady were also present at the signing ceremony.

The protocol sets the foundation for a joint investment from both SABIC and Sinopec to build the new polycarbonate production complex with an annual capacity of 260 kilo metric tons.

The new facility will be located at the Sinopec SABIC Tianjin Petrochemical Company (SSTPC) in Tianjin, China.

Polycarbonate is an essential material used for producing components for a vast array of consumer, industrial and commercial products ranging from automotive parts, household wares to medical supplies.

The new polycarbonate production will help meet the projected growth in demand for North East Asia, which includes China. Satisfying this demand is essential for producing petrochemical materials from China’s vast manufacturing industries.

Speaking after the signing ceremony, Prince Saud said: “I appreciate the respectful relationship and mutual cooperation between the Kingdom of Saudi Arabia and People’s Republic of China as well as the efforts of these two countries’ leaders to widen this relationship at all levels, particularly within economic and industrial affairs.”

He assured the importance of integration between Saudi Arabia and China, especially in the areas of petrochemicals, engineering and construction, especially as these sectors are seeking investment opportunities in both countries.

He added: “SABIC and Sinopec’s aspirations are now focused on establishing long-term strategic cooperation that contributes toward enriching Saudi Arabia’s and China’s economies in the areas of scientific research, technology and innovation, engineering and product marketing.”

Prince Saud emphasized that SABIC is keen to continue its investments in China’s marketplace generally and one significant aspect of the new project is that it will use SABIC-owned polycarbonate production technology.

The technology mitigates the environmental footprint in the polycarbonate production process.

When the plant is fully operational in 2015, SABIC will become one of the world’s largest producers of polycarbonate, significantly boosting SABIC’s market share.

The protocol of cooperation, which covers marketing, allows SABIC to supply polycarbonate as feedstock to the company’s other plants in China and the Pacific region.

Prince Saud said SABIC is a keen observer of the high growth rates achieved by China.

“We are really impressed by the significant milestones reached by China. We are proud to have entered the Chinese market in the 1980s, supplying the market with our quality products ranging from fertilizers and raw plastic materials to specialty plastic products to meet common human needs, as well as many requirements of the downstream industries.”

Prince Saud said the new project, along with the first joint venture with Sinopec, with an annual production capacity of three million tons, will strengthen SABIC’s competitiveness.

It could even lay the groundwork for further joint ventures between the two companies, offering more opportunities for two-way exchange of technologies and sharing of markets.

Long-term strategic partnerships will boost the economies of the two countries in the areas of scientific research, technological innovation, engineering, project implementation, product marketing and procurement, he said.

SABIC Vice Chairman and CEO Mohamed Al-Mady said: “China today represents the fastest growing market for SABIC globally. A key success factor in our rapid growth in China is the partnership with Sinopec, and the Protocol of Cooperation represents our commitment to creating sustainable long term success with our partners. We look forward to powering our ambitions in delivering materials that will form the building blocks for China’s industries to innovate globally.”

Al-Mady said the protocol will strategically strengthen both SABIC and Sinopec as two pioneering companies in polycarbonate production and applications in China.

SABIC brings to China its global expertise and experience in petrochemical research and production.

The partnership complements SABIC’s already strong engineered plastics manufacturing presence in compounded resin blends.

2012-07-24 Xinhua 　

Sinopec buys 49% stake in Talisman UK

Sinopec Group, Asia's largest oil refiner, announced Monday it has reached an agreement through its subsidiary with Canadian company Talisman Energy Inc to acquire a 49 percent equity interest in Talisman's assets in the North Sea for $1.5 billion.

The transaction between Petroleum Exploration and Production Corporation, Sinopec's subsidiary, and Talisman Energy (UK) Limited is expected to be concluded by the end of this year, subject to regulatory approval from the Chinese and British governments.

The deal structure will be a corporate joint venture that plans to invest to improve operating performance, as well as infill drilling, exploration opportunities and major projects, thereby extending field life and deferring decommissioning.

Sinopec will appoint personnel into key positions within the joint venture while TEUK will operate the assets. No reduction in TEUK staff numbers is expected.

Sinopec has sped up its overseas merger and acquisitions in recent years to boost its oil and gas reserves.

Based in Aberdeen, Scotland, TEUK employs 564 full-time employees, with about 1,950 core contractors.

-------------
Talisman Energy has a diversified, global portfolio of oil and gas assets. Talisman’s main operating areas are North America, the North Sea and Southeast Asia. In addition, the company is pursuing a number of high-impact international exploration opportunities. In 2010, Talisman produced 417,000 boe/d, approximately 50% oil and 50% natural gas.

North Seaでは英国とノルウェーに子会社を持つ。
今回はTalisman Energy (UK)とのJVなので、英国部分のみとなる？

 Sep 04, 2012 (SinoCast Daily Business Beat via COMTEX) 　

Sinopec Invests CNY2bn in Building Ethylene Glycol Project

Hubei Chemical Fertilizer Branch Co. of Sinopec disclosed on September 3 that it officially started construction of industrial demonstration equipment making ethylene glycol from synthesis gas.

With a total investment of over CNY 2 billion, the project will be completed and put into operation in 2013 and it will produce 200,000 tons of ethylene glycol annually.

China needs 40 million tons of fibre every year, of which 60% is chemical fiber. Raw material of chemical fiber is ethylene glycol. Currently China produces ethylene glycol mainly with oil. Making ethylene glycol by non-oil way is a leading technology in China and can efficiently reduce China's dependence on import of oil.

---------------

2012-02-17 blog.sina.com.cn

SINOPEC to Build 200kt/a Syngas-to-MEG Demonstration Project in Hubei

On January 11th 2012, Mr. Wang Tianpu, the president of SINOPEC Group visited Sinopec Hubei Fertilizer Company, to investigate the operation of the branch’s coal gasification unit and preparations for the first SINOPEC syngas-to-MEG (mono-ethylene glycol) demonstration project.

As reported, this novel MEG process demonstration has been listed in SINOPEC R&D program and SINOPEC Shanghai Engineering Company (SSEC) was awarded with the general engineering contract for the project. SSEC is requested to accomplish basic engineering in May 2012 and detailed engineering by February 2013, and mechanical completion is scheduled in June 2013, followed by commissioning and start-up in September 2013.

SINOPEC syngas-to-MEG process has entered the experimental stage. A 1000t/a pilot was built in Yangtze Petrochemical (Sinopec YPC) and accomplished catalyst & reaction process research in oxalate synthesis and oxalate hydrogenation, obtained MEG products with polyester grade quality. SSEC has prepared a 200kt/a syngas-to-MEG process design package.

SINOPEC Hubei Fertilizer Company is located in Zhijiang City of Hubei Province. The branch is equipped with two syngas systems based on gas and coal feed respectively (the coal gasification unit uses a 2000t/d Shell gasifier with 142,000Nm3/h raw syngas capacity. The gas systems can supply syngas for 900kt/a ammonia synthesis and the downstream units are capable to produce 396kt/a ammonia plus 600kt/a urea. According to the coal chemical developing strategy of SINOPEC in 12th-5 Year period (2011-2015), Hubei Fertilizer is carrying out restructuring of product portfolio, including execution of this 200kt/a MEG project.

シノペックは2011年4月、南京市でSyngas-to-MEGのパイロットプラントの建設を完了した。シノペック揚子石化の構内にあり、シノペック上海石化研究所の技術を使用、シノペック南京エンジニアリングが建設を担当した。

能力は年産1000トンで、触媒とプロセスデザインのテストを行い、将来の実機のためのデータを供給する。シノペックが技術の知財権を有し、今後のシノペックの石炭化学の発展を支えると期待されている。

2013/1/3  シノペックの武漢エチレン計画が完成

2012年12月29日の新華社通信は、シノペック武漢化学の80万トンエチレン計画が完成したと報じた。
立地は湖北省武漢市の揚子江沿岸で、5年をかけて建設した。

この計画は2007年初めに承認を得て、同年12月に建設を開始した。

製品と能力は以下の通り。

　エチレン　　　800千トン
　LLDPE　　　　300
　HDPE　　　　 300
  EG　　　　　　 300
　PP　　　　　　 400
　BTX　　　　　 400
　ブタジエン　  120

2008年5月に韓国のSK化学がこの計画に35%の出資をすることで合意した。

しかし、2009年4月に、SKは、当時の経済危機のなかで十分な資金がないとして、この投資を延期することを明らかにした。
但し、撤退の考えはなく、当初の構想どおり、エチレン計画に35%の出資をする予定とした。

その後、この件についての進展はなく、シノペック単独で完成させた。

August 20, 2015　

Sinopec Buys Kazakhstan Oil Assets From Lukoil for $1.09 Billion

China Petroleum & Chemical Corp. completed the purchase of a 50 percent stake in a Kazakh oil producer from Lukoil  for $1.09 billion, gaining full control of a venture with stakes in five oil and gas fields.

The sale of Caspian Investments Resources Ltd. received the required permits from the state authorities of the Kazakhstan in late July, Lukoil said in a statement Thursday. The deal concluded after more than a year of talks and the price is less than the $1.2 billion agreed on in April 2014.

“That’s a great piece of luck for Lukoil that Sinopec had closed the deal after all, given worsened expectations over the Chinese economy,” Maxim Moshkov, an energy analyst at UBS Group AG in Moscow, said by phone.

State-owned Sinopec, as the Chinese producer is known, signed the initial accord with Lukoil as the government in Beijing pushed to diversify energy assets abroad to meet rising demand at home. The Russian producer accused Sinopec of breaching the agreement in February and sought damages through an arbitration process, which was halted in June.

Sinopec and its parent company already own the other half of Caspian Investments Resources, which holds stakes in fields with more than 200 million barrels of proved oil and gas reserves, according to a Moody’s Corp. report published when the deal was announced last year. The Chinese joint venture bought its stake in Caspian Investments Resources in 2010.

Lukoil retains stakes in the Tengiz, Karachaganak and Kumkol oil and gas fields in Kazakhstan and the Caspian Pipeline Consortium, making it the largest Russian investor in the country, according to the statement. Its share of production in the Central Asian nation was about 4.3 million tonnes of oil and 1.5 billion cubic meters of commercial gas last year.

September 3, 2015

Rosneft and Sinopec agree on the joint development of Russkoye and Yurubcheno-Tokhomskoye fields

Rosneft and China Petrochemical Corporation (Sinopec) signed the Heads of Agreement on cooperation within the proposed joint development of Russkoye and Yurubcheno-Tokhomskoye fields. The document was signed by the Chairman of Rosneft Management Board Igor Sechin and the Chairman of China Petrochemical Wang Yupu during the visit of the Russian President Vladimir Putin to Beijing and in presence of the President of People's Republic of China Xi Jinping.

Under the agreement, Sinopec Group has the right to acquire a 49% stake in Eastern Siberian Oil and Gas Company (ESOGC) and Tyumenneftegaz, that hold the exploration licenses for Yurubcheno-Tokhomskoye and Russkoye  fields respectively.

Eastern Siberian Oil and Gas Company (a subsidiary of Rosneft) has started drilling the first gas-injection well at Yurubcheno-Tokhomskoye field.

The Russkoye field is a heavy crude oil field located in the Tazovsky District, Yamalo-Nenets Autonomous Okrug, Russia. It is one of the largest fields in Russia.
The field is developed by Tyumenneftegaz, a former subsidiary of TNK-BP and the current subsidiary of Rosneft.

Both parties agreed that the two oil and gas fields listed in this new agreement have bright prospects. The two fields are located in one of the key regions of Rosneft operations. Joint development of tight oil reserves will allow Sinopec Group and Rosneft to mitigate the operational risks of the projects. The cooperation will also enhance the projects' capacity in financing, technology and implementation. Both parties look forward to collaborating further on exploration and production.

As a next step, Sinopec Group and Rosneft will set up a Joint Technical Group to finalize the investment plan and agreement. The closing of the transaction is subject to a number of standard conditions including approval from governmental authorities.

Sinopec Group and Rosneft deeply value their partnership with each other. Both parties have achieved positive outcomes in the past in their cooperation on the Udmurtneft and Sakhalin 3 projects.

September 3, 2015

Sinopec to buy stake in Russia's Sibur

China’s Sinopec Group plans to buy a share of Russian petrochemical major Sibur, the Russian firm announced Sept. 3, without disclosing details.

Moscow-based Sibur said the two companies reached a “framework investment agreement” for Sinopec to acquire a stake in Sibur during Russian President’s Vladimir Putin’s state visit to China this week.

The Reuters news service, citing a source close to Sibur shareholders, said Sinopec could acquire more than 10 percent of the Russian company.

In the statement, Sinopec Chairman Wang Yupu said Sibur’s vertically integrated upstream and petrochemicals business complements Sinopec.

“This transaction is in line with our objective to strategically expand our petrochemical business overseas,” Wang said. “Our continued partnership will help diversify and secure Sinopec's long-term sourcing of petrochemical products.”

Sibur Chairman Leonid Mikhelson said the agreement “is a clear signal of confidence from a global energy and chemical industry leader in Sibur’s high-quality asset base and future growth potential.”

The deal will “reinforce Sibur's expertise to maximize the efficiency of new large-scale projects and raise the Company to a new level,” he said.

Reuters said Mikhelson would remain Sibur’s largest shareholder. The announcement said the deal is expected to close after approvals from corporate governing bodies and regulators.

The announcement also hinted at the larger political picture, noting that it came during a state visit by Putin to China, to mark celebrations ending World War II 70 years ago.

Wang also noted it fit into China’s new “One Belt, One Road” policy to build stronger ties with other countries in Asia, the Middle East and Europe.

Besides some existing joint investments with Sinopec, Sibur manufactures low density polyethylene, polypropylene and synthetic rubber, along with plastics products including biaxially oriented PP film and expanded polystyrene.

It said it has basic polymers production of 995,000 metric tons (2.19 billion pounds) per year and a little over a million tons (2.2 billion pounds) of capacity for products made from plastics and other materials.

Sibur is also Russia’s largest processor of petroleum gas. It had 2014 sales of 361 billion rubles ($5.4 billion).
　

October 19, 2015     

China's Sinopec in talks to buy $3 billion chemical plant shut over safety - sources

BEIJING (Reuters) - Chinese state energy giant Sinopec Corp is in advanced talks on taking a controlling stake in petrochemical firm Dragon Aromatics, which operates one of the country's biggest chemical plants, three sources with knowledge of the matter said.

The discussions come after the independent petrochemical firm suffered a second major fire in less than two years at the $3 billion plant in Fujian and sources said local authorities want Sinopec to participate before allowing the plant to reopen.　　（first fire)

2015/4/7　福建省のパラキシレン工場で爆発事故　

The tough line shows how Beijing is putting pressure on provinces to ensure better industrial safety standards and protect the environment after a series of accidents has stirred protests from residents opposed to plants in their backyard.

Dragon Aromatics, owned by Taiwan's Xianglu Group, was forced to shut the plant with a capacity to produce 1.6 million tonnes a year of paraxylene (PX), a chemical used to make polyester fiber and plastics, after the fire in April.

"This is what the local government has insisted: without Sinopec's participation the plant won't be allowed to resume operations," said one of the sources, who declined to be named due to the sensitivity of the discussions.

Sinopec could take up to 80 percent of the stake, the source added.

Sinopec spokesman Lu Dapeng declined to comment.

A senior Dragon Aromatics official said that he was not in a position to comment on the communications at the board level but told Reuters the firm was "trying every means to resume the plant's production as soon as possible."

The PX plant is located on a peninsular called Gulei, part of Zhangzhou city and a site where state firms including Sinopec and China National Offshore Oil Corporation (CNOOC) had previously tried to build petrochemical plants.

Calls to the press department of the Zhangzhou municipal government were not answered, while an official on the management committee of the Gulei economic zone did not respond to a fax seeking comment.

TIANJIN DISASTER

Industrial safety has come under heightened scrutiny in China since a devastating explosion in August at a chemical warehouse in Tianjin port that killed 160 people.

Sinopec, China's largest oil refiner and petrochemical producer, wants to build more PX facilities but at least two of its investments have been blocked over the last few years due to opposition from residents worried about pollution.

"It would not be a bad deal for Sinopec, as it would save it all the trouble of going through the lengthy regulatory and environmental approvals," said a second source with a firm that has a supply agreement with Dragon Aromatics.

In Fujian, local officials including a vice mayor have been punished over April's accident, which was blamed on lax quality control and safety management, according to a report on the state news agency Xinhua in August.

Sinopec, regarded as a seasoned petrochemicals operator, may need to retool the plant to improve safety standards, the sources said.

The purchase could also allow Sinopec to increase its purchases of Iranian oil as sanctions are relaxed.

To supply the PX plant, Dragon Aromatics also runs a 100,000 barrels per day condensate splitter and a 3.2 million tonnes per year hydrocracker at the site.

Dragon Aromatics has been one of the biggest buyers of Iranian condensate, a very light crude oil, and the plant shutdown has forced the Middle Eastern producer to store more of its oil.

($1 = 6.3610 Chinese yuan renminbi)

ーーーーーーーーー

Explosion Rocks PX Factory in Fujian

　

Summary：A controversial paraxylene plant in Fujian exploded in the earlier hours of July 30, 2013. Although no casualties or chemical leaks have been reported, the incident has added fuel to an ongoing debate about the safety of PX plants.

An explosion ripped through a paraxylene (PX) plant in Zhangzhou, 漳州市 Fujian Province at around 5am on July 30.

According to local authorities, no casualties or chemical leaks have been reported and the plant did not suffer heavy damage. An initial investigation indicates that the fire was triggered by a crack that appeared in a hydrogen pipeline during a pressure test.

News of the explosion broke when a Sina Weibo user posted images of the fire at the plant to their account at 4:57am.

Construction of Plant Halted by Environment Department in January
 
In January 2013, construction at the Zhangzhou plant was halted and Xianglu Tenglong Group (翔鹭腾龙集团), the company developing the plant, was fined 200,000 yuan by the Ministry of Environmental Protection (MEP).

　

2016-12-23 

Sinopec start construction of ethylene complex in Zhanjiang

2011/3/31　中国の国家発展改革委員会、Sinopec-KPCの石油精製・石油化学計画を認可

2018/7/28　

Sinopecの 元董事長、汚職で懲役16年

元,Sinopec 董事長で前の福建省の省長の蘇樹林（Su Shulin）は、2015年10月に「重大な規律違反」の疑いで調査を受けていると報じられていたが、このたび収賄で懲役16年の判決を受けた。

蘇は中国石油化工集団（Sinopec）の元董事長で、2011年に福建省の省長で省の共産党の副主席になった。

2015年に党の汚職調査官が、蘇が親戚の会社が海南島の洋浦経済開発区のSinopecの貯油施設事業の仕事を得るのを助けたことを見付けた。Sinopecは別途、同氏の妻の香港への買い物旅行の費用を負担したという。

蘇は、以前にPetriChinaの親会社である中国石油天然気集団（CNPC）の幹部も務めており、その実績から、共産党指導部の中で台頭している１人と見られていた。

December 26, 2017 　　Gulei Petrochemical 　

China Sinopec says starts construction of Gulei refining complex in Fujian province

* China Sinopec started construction of Gulei refining complex in southeastern Fujian province on Tuesday, the oil major said in a press release on the same day

* The refining complex, a 50:50 joint venture established by Fujian Petrochemical Company Limited (福建煉油:SINOPECと福建省政府の50/50JV）and Dynamic Ever Investments Ltd. includes an 800,000 tonne per year ethylene plant and nine downstream units

* The plant costs an estimated 27.88 billion yuan ($4.26 billion), and is expected to go into operation on June 30, 2020 ($1 = 6.5411 Chinese yuan)

ーーー

December 22/2015

Sinopec, Taiwan firm start building China petchem complex

China's state-run energy giant Sinopec and a Taiwanese firm started construction this week on a petrochemical plant in Fujian province, said Reuters. 

Taiwanese firm Dynamic Ever Investments Ltd 旭騰投資有限公司　has partnered with Fujian Petrochemical Company Limited (FPCL), which is 50-percent owned by Sinopec Corp, to build the facility, the China Petrochemical News said.

The plant, located on the Gulei peninsula in Zhangzhou, Fujian province, will process up to 1 million tonnes of ethylene when completed, the paper said.

The site will includes 16 chemical units and a dock and is expected to be partially completed by 2018, the paper said. Sinopec did not immediately respond to a request for comment. Contact information for Dynamic Ever Investments - a joint venture of seven Taiwanese companies - was not immediately available.

Ethylene, a key building block for synthetic rubber, plastics and chemical fibre, can be processed from refined oil products such as naphtha and liquefied petroleum gas.

In October, MRC reported that Sinopec was in advanced talks on taking a controlling stake Taiwanese-owned petrochemical firm Dragon Aromatics 騰龍, which operates one of the country's biggest chemical plants, also located on the Gulei peninsula.             2015/4/7　福建省のパラキシレン工場で爆発事故　

The paraxylene (PX) refiner suffered two major fires in less than two years at the USD3 billion plant.

Also nearby in the same province, Sinopec operates a 240,000 barrels-per-day oil refinery and a 1 million tonne-per-year ethylene complex.

Dragon Aromatics, owned by Xianglu Group, a Taiwanese petrochemical group, is one of the largest independently-run PX producers in China.

ーーー

25 Apr 2018

China's Fujian Gulei Petrochemical plans to startup a new 600,000 mt/year ethylbenzene-based styrene monomer plant at Zhangzhou city in 2020, US-based technology provider Badger Licensing said late Monday.

The SM plant will be part of the Gulei Refining Integrated Project, an integrated refinery and petrochemical complex, Badger said in a statement.

"Basic engineering design work is about to begin, and the plant is scheduled for mechanical completion and startup in 2020," Badger said.

The SM plant, which will be located at the Gulei Economic Development Zone, in Zhangzhou city, Fujian province, will use Badger's proprietary EBMax technology.

Fujian Gulei Petrochemical is a joint venture of Dynamic Ever Investments Ltd. -- a joint venture of Taiwan shareholders -- and Fujian Petrochemical Co. Ltd. -- a joint venture of China's Sinopec and Fujian province.

Badger has recently been awarded several SM plant contracts in China, including Zhejiang Petroleum & Chemical's 1.2 million mt/year SM plant, which will be built on Daxiaoyushan Island, in Zhoushan city, Zhejiang province.

The new plant, which will be one of the largest SM plants in the world, is scheduled to startup in 2018, according to a statement released by Badger in September 2017.

China's Hengli Petrochemical has also selected Badger's technology for a 720,000 mt/year SM plant in the Changxing Island 長興島economic zone in Dalian city, Liaoning province. The plant is expected to startup in 2019, the licensor had announced late March.
　

2016/2

Hengli Petrochemical (Dalian) Refinery Co. Ltd は、プロパン・ブタン脱水素プラントを遼寧省大連市（Dalian, Liaoning）に建設する計画で、製造プロセスにはCB&IとClariantの技術が採用されることが発表された。

プラントの処理能力は、プロパン30万�d/年、イソブタン60万�d/年でプロピレンとイソブテンを併産する計画で、シングルトレインとしては世界最大級のプロピレン/イソブテン併産脱水素プラントになる。

June 9, 2019 

Sibur and Sinopec Link on Amur JV

ーーー

Amur Gas Chemicals Complex (AGCC)

World-scale ethane pyrolysis with the capacity of 1.5mt and three PE units equipped with state-of-the-art technology

The target markets are China and Southeast Asia, where the demand is growing rapidly

The plant is located in the Amur Region not far from Amur GPP and the Chinese border

---

The Amur Gas Chemical Complex (GCC) is planned to be commissioned in 2024 if the construction is started in 2020, the Oil and Gas Information Agency reported referring to the statement of the Chairman of the Board of SIBUR Holding Dmitry Konov.

Sinopec Zhongke Zhanjiang Petrochemical中科湛江石化, a subsidiary of China's state-controlled petrochemical giant Sinopec, fed its new steam cracker with feedstock naphtha and LPG today following a delay of more than a month in Zhenjiang.

The company expects the cracker in south China's Guangdong province to produce on-specification ethylene and propylene in a couple of days.

The cracker has a nameplate capacity of 800,000 t/yr for ethylene and 400,000 t/yr for propylene, and runs on 62.5% of naphtha and 37.5% of LPG. The naphtha and LPG are from Sinopec's new 200,000 b/d Zhanjiang refinery.

The cracker has fully integrated downstream units, including a 350,000 t/yr high-density polyethylene plant, a 250,000 /400,000 t/yr EO/EG line, a 100,000 t/yr ethylene vinyl acetate plant and a 200,000 t/yr polypropylene line. The former two plants completed test runs successfully in late August.

　

・

---

August 14, 2020

Sinopec merges two Guangdong-based refineries, lifts more U.S. oil

China’s Sinopec Corp has merged two subsidiary refineries in Guangdong, two company sources said, as the state refining giant looks to improve operations in the face of rising competition in South China.

The company in July combined the newly launched Zhongke中科 refinery complex and a neighbouring old plant Dongxing Petrochemical, both based in the coastal city of Zhanjiang, and named the merged entity Zhongke Refining and Chemical Co.

Guangdong province is China’s top oil-consuming region. Sinopec alone operates nearly 1 million barrels per day (bpd) of refining capacity in the province and rival PetroChina is building a new 400,000 bpd refinery.

“It’s part of Sinopec’s strategy to form regional refining hubs so to be more integrated into feedstock supply and crude oil purchases,” said one Sinopec official.

Both sources declined to be named due to company policy. Sinopec did not immediately respond to a request for comment.

The new entity has a crude refining capacity of 300,000 bpd and is due to start a new 800,000 tonne per year ethylene complex in September at the Zhongke plant.

The older Dongxing plant, which operates a 100,000-bpd crude unit, has since 2017 become China’s leading processor of U.S. crude oil, mostly of low sulfur quality that fits the plant’s configuration, said a second official.

Between 2017 and 2019, Dongxing processed about 15 million barrels of West Texas Intermediate crude, replacing some of its previous regular imports from West Africa.

After a lull in U.S. oil imports in 2019 due to souring relations with Washington, China since earlier this year has resumed U.S. oil purchases following the Phase 1 trade deal agreed in January.

Dongxing is slated to receive 1 million barrels of WTI crude each month between June and October, the second source said.

WTI crude typically gives a high yield of naphtha, a feedstock needed for the start-up of the Zhongke ethylene plant.

　

---

11 May 2020

Sinopec begins operations at Sinopec Zhongke Refinery Port

China Petroleum & Chemical Corporation (Sinopec) has commenced operation at Sinopec Zhongke Refinery Port by docking and unloading the New Renown, Crude Oil Tanker (VLCC) from the Middle East.

The vessel is unloaded at Sinopec Zhongke Refinery Port’s 300,000 tonnes crude oil terminal, which forms part of the company’s “front terminal, rear plant” production model.

Located on the east coast of Zhanjiang 湛江, Guangdong Province, the new petrochemical port comprises eight terminals that include a 300,000-tonne crude oil berth, 100,000-tonne oil berth and supporting facilities that provide a total capacity of 34 million tonnes annually.

The firm said that the 100,000 tonnes berth is the largest domestic refined oil terminal with a loading and unloading capacity of 5.61 million tonnes annually.

The petrochemical port is part of Zhanjiang Integrated Refinery and Petrochemical Complex

According to Sinopec, the terminal provides convenient access to refined oil and chemical products for core domestic market of the company and also provides direct opportunities for global exports.

Situated just 1.1km away from Sinopec’s refinery plant, the petrochemical port is part of Zhanjiang Integrated Refinery and Petrochemical Complex.

The complex is claimed to be the biggest of its kind under construction by Sinopec, and a key part of the Guangdong Province’s 13th Five-Year Plan.

With the total investment of more than CNY 40bn, the first phase of the project will add more than 10 million tonnes of refined crude oil capacity and 800,000 tonnes of ethylene units per year along with the auxiliary supporting facilities.

The final project is anticipated to be fully completed and put into production by the end of July this year.

---

December 10/2020　   

Sinopec to invest USD4.4 Billion to curb China dependence on ethylene imports

Sinopec’s board has approved plans to build a 1.2-million metric tons per annum ethylene plant and downstream units in the Nangang 南港 area of the port of Tianjin, China, reported Kemicalinfo with reference to an announcement posted on 4 December.

Sinopec estimates the cost of the project at 28.8 billion renminbi (USD4.4 billion).

Sinopec announced in November that it had signed a framework agreement with the Tianjin authorities to invest about 70 billion renminbi (USD10.7 billion) at Nangang in 2021-25 to build capacity for petrochemicals and other products.

Ethylene is a major product processed from crude oil. In China, over half of the chemical is used to make polyethylene, a key ingredient for plastics used in a wide range of everyday goods and home appliances.

As the Chinese government calls for reduced dependence on chemical imports amid rising geopolitical tensions, state-owned and private oil firms are racing to boost domestic capacity in the world’s top chemical consumer.

China’s total ethylene capacity is forecasted to grow over 50 million tons by 2025, an expert at oil giant, China National Petroleum Corp said.

Sinopec operates 1 million metric tons per annum ethylene plant and downstream complex in the Dagang 大港 district of Tianjin in a 50/50 joint venture (JV) with Sabic called Sinopec Sabic Tianjin Petrochemical (SSTPC). The JV announced in 2019 that it would invest 1.5 billion renminbi (USD230 million) to expand ethylene capacity by 300,000 metric tons/year for completion in 2021.

2009/7/13　中国、シノペック天津石化計画へのSABICの参加を承認

Sinopec also has a wholly-owned 240,000- metric tons per annum ethylene plant at Dagang, operated by its Sinopec Tianjin Co. subsidiary. Nangang and Dagang are both in Tianjin’s Binhai New Area development zone.

　

March 15, 2022 

Sinopec starts construction of world’s largest LNG storage tank

May 29, 2023　

China's Sinopec begins construction of Luoyang ethylene project


Chin's has begun construction of an ethylene plant and a green advanced materials base in the city of Luoyang in central China's Henan province (河南省洛陽市), the state-owned refiner said in a statement on Monday.

The project, which is expected to be put into operation in December 2025, is expected to produce around 3 million tonnes of refined chemicals annually, with the ethylene plant expected to produce 1 million tonnes per year, it said.

Sinopec's total planned investment in the project is 27.8 billion yuan ($4.02 billion).

The project is aimed at reducing China's dependence on imports of high-end refined products, the statement said.

($1 = 6.9121 Chinese yuan renminbi)

 On May 27th, the high-profile Sinopec Luoyang million-ton ethylene project and green petrochemical advanced material industry base mobilization meeting was held in Luoyang.

The latest project: a total investment of 27.8 billion! Sinopec Luoyang million tons of ethylene project officially started

Based on the raw materials provided by Luoyang Petrochemical Refinery, the ethylene project will build a 150,000-ton/year butadiene extraction unit led by a 1 million-ton/year ethylene unit, a 600,000-ton/year pyrolysis gasoline hydrogenation unit 熱分解, and a 400,000-ton /year aromatics extraction unit, 30,000 tons/year styrene extraction unit, 300,000 tons/year m-LLDPE unit, 350,000 tons/year HDPE unit, 250,000 tons/year LDPE/EVA unit, 100,000 tons/year Annual EVA plant, 200,000 tons/year ethylene oxide plant, 400,000 tons/year 3#polypropylene plant, 200,000 tons/year 4#polypropylene plant, 50,000 tons/year 13 sets of petrochemical production equipment including SEBS equipment.

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January 22, 2024

Sinopec establishes joint venture with China’s second largest charging giant

The state-owned company seeks to expand its charging network by partnering with Wangbang Digital Energy.

China Petroleum & Chemical Corporation, commonly known as Sinopec, has established a joint venture with charging equipment manufacturer Wangbang Digital Energy.

According to a report by Jiemian, Sinopec Wanbang was registered less than a month ago and established with a registered capital of 10 million yuan. 70% of the firm belongs to the state-owned company while the remaining 30% to Wanbang.

The newly formed venture focuses on energy generation, transmission, and distribution as well as the development of fast charging stations, battery manufacturing and sales.

Wanbang Digital Energy is a domestic charging company dedicated to research, develop and manufacture equipment for new energy vehicles. The company also operates the Star Charging brand, currently the second largest public charging operator in China.

China Charging Union’s data shows that by the end of 2023, the number of charging infrastructure in the country was 8,596,000 units, an increase of 65% year-on-year. Among them, Telegraph operated 523,000 units and ranked first while Star Charging operated 451,000 units, occupying the second place.