PetroChina postpones new CDU and ethylene project start-up to next year

13-Oct-08

PetroChina has deferred start-up of its new 100,000 bpd crude distillation unit (CDU) and 1 mln tpa ethylene project at Dushanzi refinery situated in Xinjiang province to 2009. Both the projects were planned to be constructed by the end of 2008. Recently, Sinopec Group disclosed that it would be staring a large unit at Fujian refinery in Q1 2009 turning down expectations of late 2008 start up. Also, CNOOC, another Chinese oil major has already pushed start up of its 240,000-bpd Huizhou refinery until next year. The situation can lead to oil supply glut in the region owing to the recent global recession.