Production of ethylene will reach 21-23 mln tons by 2015, meeting 60-65% of domestic demand, as per guidelines compiled by the China Petroleum and Chemical Industry Association and major oil companies. China plans to produce 15.5 mmln tons of ethylene by 2011.
Crude processing capacity will be raised to 550 mln tons at 11 mln bps by 2015, while output of refined oil products will rise to over 300 mln tons. China aims to increase annual crude throughput to 405 mln tons or 8.1 mln bpd by 2011, from 342.1 mln tons in 2008. The guidelines were detailed principles for a plan, announced by Beijing in May, to "adjust and revive" the petrochemical sector in the wake of the global economic downturn, and were endorsed by the central government, an official with the association said