CNOOC Oil & Petrochemicals Co., Ltd
The refining segment plays an important part in CNOOC's expansion into mid and downstream business. CNOOC Oil & Petrochemicals Co., a wholly owned subsidiary of CNOOC, was founded in Beijingin November 2005 with a registered capital of RMB 12.1 billion. Its business covers petroleum refining, the production of petrochemicals, and the research and development of petrochemical technology.
In 2008, the company processed 3.35 million tons of crude oil and achieved revenue of RMB 27.26 billion with RMB 26.95 billion from its core business.
The Huizhou Refinery Project is the first large-scale downstream project solely invested in by CNOOC. Around RMB21.6 billion was invested in Phase I to build a refinery with an annual capacity of 12 million tons. The project was designed to process high acid heavy offshore crude, and is the largest single train refinery in Chinaand the first refinery specially designed to process high acid heavy offshore crude in the world. In May 2009, the refinery was put into operation, marking the realization of CNOOC's strategy of developing into an integrated energy company.
CNOOC and Shell Petrochemicals Co., Ltd. (CSPC) is a joint venture of CNOOC and the Royal Dutch/Shell Group of Companies. With a total investment of USD 4.2 billion, it is one of the largest joint venture projects in China. In 2008, CSPC produced 840,800 tons of ethylene, 457,500 tons of propylene and 2,489,000 tons of high quality and high value-added petrochemical products.
In 2008, CNOOC Oil & Petrochemicals Co. signed a strategic cooperation agreement with the Shenzhen Municipal Government to jointly construct a fine chemical industrial park in Shenzhen. The company also signed a framework agreement on strategic cooperation with the Shandong Provincial Government as an effort to accelerate the strategic layout around Bohai Bay.
On September 7 2009, CNOOC acquired a 51% stake of Shandong Haihua(www.haihua.com.cn). After reorganizing Shandong Haihua, CNOOC will make full use of its advantages in capital, resources, technology and management to further improve the refining and chemical capability of Shandong Haihua and the profitability of its refining assets, continuously enhance the core competitiveness of Shandong Haihua, expand the petrochemical and fine chemical sectors while strengthening the traditional salt chemical industry, and realize petrochemical/salt chemical integration.
CNOOC's 12 million-ton Huizhou Refinery Project uses heavy high-acidity crude oil as feedstock. The project targets as a world-class "Green Refinery" that is characterized by differentiation, sanitation, informationalization and highvalue, leveraging its top-notch management, technology and environmental standards. At the 24th IPMA International Project Management Meeting held on 1 November 2010, Huizhou Refinery Project was, as the world's first petrochemical project, awarded the Highest of International Project Management Excellence Award –" Mega-sized Project Management Gold Prize" by the International Project Management Association.
Huizhou Refinery Project maintained a leading position, international or domestic, in terms of various benchmarks; production operations of Da Xie Zhoushan of Refinery and Zhong Jie Petrochemical, etc. were smooth, and their processing capacities and refining abilities have been rising; Huizhou Refinery Project Phase II, ABS, integrated oiling and salinization, Hainan DCC and Alkene and other new projects progressed well and stably.
|
|
RSS | Contact us | Site Map | Legal terms
