China's Shandong Dongying Fuhai large-scale refining project EIA publicity, private refining to the new material track upgrade.

By SKYSEVEN Chemical Technical Team · 2026-10-08

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On September 24, 2026, the demonstration project of low-carbon reconstruction and comprehensive utilization of aromatics raw materials of China Fuhai (Dongying) Petrochemical Technology Co., Ltd. released the first public announcement of the EIA. The project officially entered the stage of public participation in the EIA, and the approval work was steadily advanced.

1、 Project Overview

on September 24, 2026, china the demonstration project of low-carbon reconstruction and comprehensive utilization of aromatic raw materials of Fuhai (Dongying) Petrochemical Technology Co., Ltd. released the first public announcement of the EIA. The project officially entered the stage of public participation in the EIA, and the approval work was steadily advanced.
 
Project construction subject china fuhai (Dongying) Petrochemical Technology was registered in December 2023 with a registered capital of 3 billion yuan. China fuhai Group New Energy Holdings is wholly owned by Dongying Port Economic Development Zone. Project site selection dongying Port Chemical Industry Park South Area, Dongying City, Shandong Province, China it is a new project with a total investment of about 75.2 billion yuan and covers an area of 9000 mu.
 
The project plans to build 10 million tons/year atmospheric and vacuum distillation and supporting oil refining units, 1 million tons/year ethylene and supporting chemical units, with a total of 42 new refining and chemical units, forming 10 million tons/year oil refining, 1 million tons/year ethylene and 1 million tons/year PX production capacity, as well as supporting public works, tank farms and sewage treatment facilities. After the completion of the project, it will produce 4.5017 million tons of PX raw materials, 2.29 million tons of high value-added chemicals, 1.4208 million tons of high-end polyolefins and new materials, and 2 million tons of refined oil. The project is included in the list of major petrochemical projects to be promoted nationwide, and the preparatory work for the start of construction is progressing in an orderly manner at this stage.

2. enterprise background and project orientation

parent Company china fuhai Holdings is the main enterprise in Shandong aromatics industry chain, covering petrochemicals, new materials, clean energy, logistics and oil retail, operations. China Dongying Hualian Petrochemical Plant, Dongying United Petrochemical two bases, the existing crude oil processing capacity of 10 million tons/year. 2025 china fuhai Holding has a total asset of 36.261 billion yuan and a sales income of 101.226 billion yuan. It has been selected as one of the top 500 Chinese enterprises for ten consecutive years and is the head enterprise of Shandong private refining and chemical industry.
 
This project is in line with the policy of "optimizing reorganization, reducing replacement, large and small" in Shandong Province, integrating regional inefficient refining capacity, and promoting the traditional local refineries to turn to aromatics and high-end polyolefin new materials, which is a typical industrial upgrading project.

Interpretation of 3. Supply Chain and Trade Market

supply level, the project mainly produces PX, ethylene, high-end polyolefin. PX is the core raw material of PTA industry chain, ethylene can produce PE, EO and other products. after the project is put into operation, north china region aromatics, olefin raw material supply will be significantly expanded, reshaping the northern PX, polyolefin supply structure, overseas and domestic traders can pay attention to forward supply, warehousing logistics and cross-regional price difference opportunities.
 
In the competitive landscape, Shandong Province continues to promote the elimination and integration of ground refining capacity. The landing of the project will strengthen the advantages of the aromatics industry in Dongying Port Chemical Industry Park, form supply competition with the rest of the large-scale refining projects in the province, and will compress the profit space of aromatics in the medium and long term.
 
Risk Warning: The project is currently only completed the first EIA publicity, the follow-up still needs EIA approval, land, safety assessment and other approvals, from the start of construction, production cycle is long. Trading business should not lock forward contracts in advance, and it is necessary to continuously track the progress of the project approval node.

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