5 Million To Be ImportantFor Shandong Independent Refineries

5 Million To Be ImportantFor Shandong Independent Refineries

On October 29, 2018, People’s Government ofShandong Province issued Implementation Plan for Accelerating theHigh-Quality Development of Seven High-Energy-Consuming Industries. The development trend of theindependent refineries in Shandong Province is seen in the plan. According to theplan, by the end of 2022, the independent refineries which are in denselypopulated urban areas and have the CDUs capacity of no more than 3 milliontons/a will be moved. By the end of 2025, the independent refineries which arein densely populated urban areas and have the CDUs capacity of no more than 5million tons/a will be moved, and the total CDUs capacity of Shandongindependent refineries will drop to around 90 million tons/a by 2025. The yieldrate of refined oil (gasoline, kerosene and diesel) will drop to around 40%,but the production of basic chemicals and high-end chemical new materials willimprove greatly. The output of basic chemicals (including olefins, aromatics,etc.) will take up over 35% of the refineries’ output of all products.

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