Production at Sinopec Maoming Petrochemical Corp's ethylene facility was at a standstill for a period of two months. The ethylene facility was shut for regular maintenance and equipment repairs in January and February, resulting in large revenue loss. The company lost production of 19,000 tons of ethylene and suffered a loss in profits of 150 mln yuan. The facility has restarted after the shutdown. After revamp, Sinopec Maoming aims to reach a record-high monthly production of 100,000 tons of ethylene in March. This rebound is fueled by the recovery of the manufacturing industry in the Pearl River Delta.
Fifteen new storage tanks with capacity of 125,000 cu m of oil will hold a combined 2 million tons of crude oil by H2-2011, doubling storage in Maoming to 4 mln tons. The expanded storage capacity will help China ride out crude oil price fluctuations and aid in securing petroleum supply in Guangdong province, a key manufacturing hubs.
The comprehensive facility includes a modern dock, crude oil loading and unloading at sea and a railway transport system.