China: ExxonMobil & Sinopec Celebrate Completion of Fujian Plant
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Thursday, 12 November 2009 |
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ExxonMobil, Sinopec, Fujian Province and Saudi Aramco, celebrated the
full operation of China’s first integrated refining and petrochemical
facility with foreign participation. This facility, the Fujian
Integrated Refining and Ethylene Joint Venture Project, will help meet
the region’s growing need for fuels and chemical products.
Rex W. Tillerson, chairman and chief executive officer of Exxon
Mobil Corporation, who attended a ceremony in Quanzhou to mark the
occasion said “Our participation in this world-class complex
illustrates our commitment to the region and to provide our customers
with the products they need,” said
More than $4.5 billion was invested in the complex, which tripled the
capacity of the existing refinery to 240,000 barrels per day to produce
transportation fuels and other refined products. In addition, the
project added a new petrochemical complex that includes an 800,000
tons-per-year ethylene steam cracker, an 800,000 tons-per-year
polyethylene unit, a 400,000 tons-per-year polypropylene unit and a
700,000 tons-per-year paraxylene unit.
The complex is jointly owned by the Fujian Petrochemical Company
Limited (50 percent), ExxonMobil China Petroleum and Petrochemical
Company Limited (25 percent) and Saudi Aramco Sino Company Limited (25
percent).*
It also is fully integrated with the Fujian Fuels Marketing Joint
Venture, formally registered as “Sinopec SenMei (Fujian) Petroleum
Company Limited,” owned by Sinopec (55 percent), ExxonMobil China
Petroleum and Petrochemical Company Limited (22.5 percent) and Saudi
Aramco Sino Company Limited (22.5 percent). The venture manages and
operates approximately 750 service stations and a network of terminals
in Fujian Province.
PetrolWorld 111109
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