SINGAPORE, Nov 17 (Businesshala) – China’s Sinopec Corp said on Wednesday that it has completed a successful trial of processing crude oil directly into olefins, making the top Asian refiner one of the few companies in the world that have achieved an industrial scale. technology has been applied.
Sinopec said that with a yield of about 50%, the manufacturing process cuts production costs as well as carbon dioxide emissions, compared to the traditional approach of refining crude oil into intermediate fuels, which are further processed into olefins. There are, Sinopec said.
Olefins – primarily ethylene and propylene – are important building blocks for making petrochemicals such as plastics and synthetic fibers.
After testing at the Sinopec subsidiary plant in Tianjin, the refiner will proceed with construction of the one million tonne per year crude-to-olefin plant, it said without giving further details.
China, the world’s biggest emitter of greenhouse gases, hopes to limit its primary crude refining capacity to one billion tonnes per year (20 million barrels per day) by 2025 under a national goal of reaching a carbon emissions peak before 2030. Is.
But it lacks petrochemicals like plastics and synthetic fibers.
Sinopec said ExxonMobil (XOM.N) is another firm equipped with such technology.
The US oil and gas major said last week it had made a final investment decision to build a multi-billion dollar petrochemical complex in South China that, according to industry experts, would involve a similar manufacturing process.