Wanda Petrochemical, Innovation Powering Growth

Wanda Petrochemical, Innovation Powering Growth

Shandong Province is an important refining base in China, and the CDUs’ refining capacity in Dongying City covers one third of the total capacity in Shandong Province. But some of the refineries in Dongying City have small refining capacity and have short industrial chains. Therefore, the construction of a high-end petrochemical base is an important measure of Dongying governments to integrate the refining capacity.

Wanda Petrochemical has 4.4 million mt/a of imported crude oil processing quota. All of the crude oil and refined oil are transported by pipelines at Dongying Port at present, backed by the oil wharfs of CNOOC and the supportive facilities at the port. If we set the annual delivery volume of crude oil at Dongying Port is 5 million mt and the delivery cost by pipeline is RMB 100/mt lower than that by truck, the crude oil delivery cost of crude oil will decrease by 500 million RMB. Therefore, Dongying Port has built a complete pipeline network and enjoys great advantages in crude oil delivery.

Shandong Tianhong Chemical is a refinery under Wanda Petrochemical, and it is one of the four independent refineries in Dongying Port Economic Development Zone. Tianhong Chemical was founded in April 2012 and put into 5 million mt/a CDUs into production on September 29, 2013. At present, Tianhong Chemical has 5 million mt/a CDUs capacity, 2 million mt/a FCC units, 1.8 million mt/a coking capacity, 1.8 million mt/a diesel hydrogenation capacity, 1.5 million mt/a hydrocracking capacity and some other units.

In addition, Wanda Petrochemical also has subordinate companies, including Shandong Hongxu Chemical, Shandong Wanda Chemical, and Shandong Winter Chemical. Wanda Petrochemical has built a complete petrochemical industrial chain.

In order to improve the service efficiency, Wanda Petrochemical also built four large liquids wharfs, 1.2 million m3 crude oil storage capacity and 1 million m3 bonded tank field. Meanwhile, Wanda Petrochemical is building four 100,000mt crude oil wharfs. The company covers the business in oil refining, chemicals, rubber and tire

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