The Chinese government has recently adjusted a fuel-pricing system to include crude oil costs and a profit for refiners. Keeping this in mind, and in a bid to meet growing fuel demand in the southern province of Guangdong, the nation’s manufacturing hub, Sinopec (China Petroleum & Chemical Corp.) has planned capacity expansion. The refiner has received approval from the environment agency and will embark on a plan to triple capacity at Maoming to 25.5 mln tpa from 13.5 mln tpa. Capacity may be further expanded to 40 million tpa.
Sinopec also plans to double ethylene output to 2 mln tpa.