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Sinopec Tahe Refining and Chemical Company's Refining and Chemical Integration Project officially started on September 20 in Kuqa, Xinjiang.
the refining and chemical integration project of Sinopec Tahe Refining and Chemical Company officially started in Kuqa, Xinjiang on September 20. The project represents an important milestone in the integrated development of China's chemical industry chain in the western region. The core construction of the project includes expanding the existing 1.5 million-ton/year No. 1 atmospheric unit to 5 million-ton/year atmospheric and vacuum unit, and building 16 new key production units: 2.4 million-ton/year hydrocracking, 1.5 million-ton/year continuous reforming, 800000-ton/year ethylene cracking, 800000-ton/year aromatics combined unit, etc.
It is worth noting that the project adopts the green and low-carbon process technology of Sinopec's independent intellectual property rights, which shows that China has made important progress in independent innovation of refining and chemical technology. The project is planned to be fully completed in 2029, when the crude oil processing capacity of Tahe Refining and Chemical Company will be increased from the current 5 million tons/year to 8.5 million tons/year, an increase of 70%.
from the perspective of return on investment, the project shows strong economic potential. According to the benchmark calculation of crude oil price of US $60/barrel, after the completion of the project, the annual output value will be increased by about 20.2 billion yuan, the tax revenue will be increased by about 3.5 billion yuan, and about 10000 jobs will be created. This economic scale has a significant pulling effect on regional economic development.
For overseas chemical traders, the strategic significance of the project is that Tahe Refining and Chemical Company, as the only refining and chemical enterprise of Sinopec in Northwest China, its capacity expansion will significantly affect the supply pattern of ethylene, p-xylene and other petrochemical products in the western region. After the project is put into operation, a complete industrial chain from crude oil processing to petrochemical product production will be formed, especially the new ethylene and aromatic production capacity, which will provide important raw material guarantee for downstream industries such as textiles and plastics.
In the past 20 years, Tahe Refining and Chemical has supplied more than 70 million tons of products to Xinjiang, Gansu, Qinghai, Xizang and other western regions. This expansion will further consolidate its core position in the western chemical supply chain.
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