rongsheng zhoushan refinery pricelist

China"s private refiner Zhejiang Petroleum & Chemical is set to start trial runs at its second 200,000 b/d crude distillation unit at the 400,000 b/d phase 2 refinery by the end of March, a source with close knowledge about the matter told S&P Global Platts March 9.

ZPC cracked 23 million mt of crude in 2020, according the the source. Platts data showed that the utilization rate of its phase 1 refinery hit as high as 130% in a few months last year.

Started construction in the second half of 2019, units of the Yuan 82.9 billion ($12.74 billion) phase 2 refinery almost mirror those in phase 1, which has two CDUs of 200,000 b/d each. But phase 1 has one 1.4 million mt/year ethylene unit while phase 2 plans to double the capacity with two ethylene units.

With the entire phase 2 project online, ZPC expects to lift its combined petrochemicals product yield to 71% from 65% for the phase 1 refinery, according to the source.

Zhejiang Petroleum, a joint venture between ZPC"s parent company Rongsheng Petrochemical and Zhejiang Energy Group, planned to build 700 gas stations in Zhejiang province by end-2022 as domestic retail outlets of ZPC.

Established in 2015, ZPC is a JV between textile companies Rongsheng Petrochemical, which owns 51%, Tongkun Group, at 20%, as well as chemicals company Juhua Group, also 20%. The rest 9% stake was reported to have transferred to Saudi Aramco from the Zhejiang provincial government. But there has been no update since the agreement was signed in October 2018.

SINGAPORE, Oct 14 (Reuters) - Rongsheng Petrochemical, the trading arm of Chinese private refiner Zhejiang Petrochemical, has bought at least 5 million barrels of crude for delivery in December and January next year in preparation for starting a new crude unit by year-end, five trade sources said on Wednesday.

Rongsheng bought at least 3.5 million barrels of Upper Zakum crude from the United Arab Emirates and 1.5 million barrels of al-Shaheen crude from Qatar via a tender that closed on Tuesday, the sources said.

Rongsheng’s purchase helped absorbed some of the unsold supplies from last month as the company did not purchase any spot crude in past two months, the sources said.

Zhejiang Petrochemical plans to start trial runs at one of two new crude distillation units (CDUs) in the second phase of its refinery-petrochemical complex in east China’s Zhoushan by the end of this year, a company official told Reuters. Each CDU has a capacity of 200,000 barrels per day (bpd).

Zhejiang Petrochemical started up the first phase of its complex which includes a 400,000-bpd refinery and a 1.2 million tonne-per-year ethylene plant at the end of 2019. (Reporting by Florence Tan and Chen Aizhu, editing by Louise Heavens and Christian Schmollinger)

(Yicai Global) May 20 -- Zhejiang Petrochemical"s oil  refining project with an annual capacity of 40 million tons on Zhoushan has finished  construction and equipment installation in the first stage and will start running soon,   Ningbo, Zhejiang province-based Rongsheng Petrochemical, which is ZPC"s  controlling shareholder, announced this afternoon.

The project, on the island of Zhoushan in southeastern China"s Zhejiang province south of Shanghai at the mouth of Hangzhou Bay, has total investment of around CNY173 billion (USD25 billion). It is not only the largest petrochemical project that Chinese private firms have invested in, but its production scale is also one of the biggest worldwide. It has 22 refining and 15 chemical units, and its two stages have a similar scale and will be able to refine 40 million tons oil upon completion, the released data show.

Formed in June 2015, ZPC is a privately controlled, mixed-ownership firm. Zhoushan Ocean Comprehensive Development and Investment under the Zhoushan government holds a 9 percent stake in it. The government signed an agreement with world petroleum colossus Saudi Arabian Oil -- commonly known as Aramco -- to sell its stake in February.

Saudi Aramco today signed three Memoranda of Understanding (MoUs) aimed at expanding its downstream presence in the Zhejiang province, one of the most developed regions in China. The company aims to acquire a 9% stake in Zhejiang Petrochemical’s 800,000 barrels per day integrated refinery and petrochemical complex, located in the city of Zhoushan.

The first agreement was signed with the Zhoushan government to acquire its 9% stake in the project. The second agreement was signed with Rongsheng Petrochemical, Juhua Group, and Tongkun Group, who are the other shareholders of Zhejiang Petrochemical. Saudi Aramco’s involvement in the project will come with a long-term crude supply agreement and the ability to utilize Zhejiang Petrochemical’s large crude oil storage facility to serve its customers in the Asian region.

Phase I of the project will include a newly built 400,000 barrels per day refinery with a 1.4 mmtpa ethylene cracker unit, and a 5.2 mmtpa Aromatics unit. Phase II will see a 400,000 barrels per day refinery expansion, which will include deeper chemical integration than Phase I.

Saudi Aramco signed three Memoranda of Understanding (MoUs) on Friday to purchase a 9 percent stake in Chinese Zhejiang Petrochemical"s integrated refinery and petrochemical complex in the city of Zhoushan, and to invest in a retail fuel network in the eastern region of China, the Saudi state-run energy giant announced.

The first agreement was signed with the Zhoushan government to acquire its 9 percent share in the 800,000-barrels-per-day integrated refinery and petrochemical complex, according to the company"s statement.

According to the press release, phase I of the project will include a newly-built 400,000-barrels-per-day refinery with a 1.4 million-metric-tons-per-annum (mmtpa) ethylene cracker unit, and a 5.2 mmtpa aromatics unit. Phase II will see a 400,000-barrels-per-day refinery expansion, which will include deeper chemical integration than phase I, it said.

China Merchants Energy Shipping (CMES), the energy transport unit of China Merchants Group, has signed a agreement with Rongsheng Petrochemical to form a strategic partnership.

Under the agreement, the two companies will jointly develop cooperation opportunities in the area of shipping, logistics, and financing, especially for the Rongsheng’s Zhoushan Green Petrochemical Base project, which started a trial operation recently.

Zhoushan Green Petrochemical Base project is a new integrated refinery and petrochemical project on Zhoushan Island, and it is set to become one of the world’s largest crude-to-chemicals complex.

Chinese private petrochemical group Zhejiang Rongsheng Holding has signed a framework agreement with state-run shipping conglomerate Cosco Shipping Group to form a strategic partnership.

PVTIME– Rongsheng Petrochemical Co., Ltd., (002493.SZ) (hereinafter referred to as Rongsheng) announced that the 300,000MT EVA device was successfully put into operation on December 28, 2021, and its photovoltaic products have been successfully produced with 28% VA content.

These products were produced by the ‘40 Million MT/Year Integrated Refining and Chemical Project (Phase II)’, which invested by Zhejiang petroleum & chemical Co., Ltd., a holding subsidiary of Rongsheng. The project based in Green Petrochemical Base, Zhoushan City, China, with an annual output of 300,000MT PV products.

Furthermore, as early July this year, Rongsheng revealed in its interaction with investors that Zhejiang project (Phase II) is undergoing. The EVA device can produce all photovoltaic products, and it may make an expansion of EVA production capacity in the future.

Zhejiang Rongsheng owns 51% of Zhejiang Petroleum & Chemical Co ltd, with Shanghai-listed Zhejiang Tongkun and local government-owned Juhua each owning 20%. The Zhoushan government holds the remaining 9%.