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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.

Zhejiang Petroleum & Chemical Co Ltd, one of two new major refineries built in China in 2019, said it has started up the remaining units in the first phase of its refinery and petrochemical complex.

The complex, in east China’s Zhoushan city, is now producing oil products and chemicals to commercial specifications, Zhejiang Petrochemical said on its website.

The company, 51% owned by private chemical group Zhejiang Rongsheng Holdings, said it has started test production at ethylene, aromatics and other downstream facilities, without giving further details.

Zhejiang Petrochemical started a first 200,000 barrels per day (bpd) crude processing unit in late May, following on from the start of a 400,000-bpd refinery owned by another private chemical major Hengli Petrochemical.

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)

(1) ZPC: Zhejiang Petroleum & Chemical Co., Ltd, established in Zhoushan, Zhejiang on June 18, 2015, is a mixed-ownership enterprise jointly formed by the private enterprise Rongsheng Petrochemical Co., Ltd.（holding 51% of shares）， provincial state-owned enterprise Zhejiang Juhua Investment Co., Ltd.（holding 20% of shares）, the private enterprises Zhejiang Tongkun Investment Co., Ltd.（holding 20% of shares） and Zhoushan Marine Comprehensive Development and Investment Co., Ltd.(holding 9% of shares), which will be the first kind of mixing economy enterprise in China in the Refinery and Petrochemical Industry. ZPC’s first phase project includes 20 million tons per year refinery and 1400 KTA Ethylene Complex.

November 09, 2020 [Argus Media] – Chinese private-sector firm Rongsheng has started trial runs at a 400,000 b/d expansion of its ZPC refinery in Zhejiang, which will take total capacity to 800,000 b/d.

Rongsheng held a ceremony to mark the start of the refinery’s second phase yesterday. ZPC will add two 200,000 b/d crude distillation units (CDUs) in the second phase expansion, the second of which is scheduled to start trial runs in 2021.

The second-phase units are designed to produce 88,000 b/d of gasoline, 32,000 b/d of diesel and 63,000 b/d of jet fuel. The complex is geared towards producing feedstocks for Rongsheng’s petrochemical operations.

Rongsheng in October purchased about 10mn bl of Mideast Gulf crude for loading and arrival across December and January, ahead of the second-phase start-up.

ZPC is based on Yushan island, one of multiple islands in the emerging oil hub of Zhoushan on China’s east coast. It operates a 300,000t crude terminal on Waidiao Island and the 800,000 b/d Waidiao-Mamu-Yushan crude pipeline. Another new 300,000t crude terminal is operational on Huangzeshan island, while ZPC is also planning an additional 800,000 b/d undersea crude pipeline connecting Huangzeshan and Yushan island.

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.

State-run Saudi Arabian Oil Co. and U.S. behemoth Exxon Mobil Corp. were among firms that signed $24 billion in preliminary deals last Thursday at the International Petroleum and Natural Gas Enterprises Conference in Zhoushan — the main island in a group of over 1,300 off China’s east coast.

Li had reason to celebrate. Saudi Arabia’s state oil company agreed to buy a stake in a refinery that his firm, Rongsheng Petrochemical Co., is building there. The high-profile deal illustrated the potential for Zhoushan and the wider Zhejiang province, in which the archipelago is located, to play an outsize role in energy markets. The local government’s ambition for a processing, storage and trading hub is spurring a rush for a piece of the pie.

As part of plans to revamp the economy, China has set up several free trade zones that typically feature fewer regulatory hurdles, greater transparency over government rules and looser restrictions for foreign investment. One such FTZ was established last year at Zhoushan in the province where Xi served as governor in the 2000s before he ascended to the nation’s presidency.

A total of 25 deals with a total potential value of 165.6 billion yuan were signed at Zhoushan on Oct. 18, the provincial government said in a statement. Most of the pacts during IPEC were framework agreements that may be subject to changes later.

Now, after other cities such as Hangzhou and Ningbo turned Zhejiang into an affluent manufacturing hub, Zhoushan is seeking to take advantage of its location to become an energy-trading center. It’s also home to a part of China’s Strategic Petroleum Reserve.

One of the biggest projects in the works is Rongsheng’s energy and petrochemical complex, which will process about 400,000 barrels a day of oil and is set to start operations by the end of 2018. There are plans to double the plant’s capacity by 2020, which would elevate it to the ranks of the largest refineries in the world.

While Rongsheng is preparing to start its refinery, ENN Energy Holdings Ltd. has begun operations at a liquefied natural gas receiving terminal in Zhoushan. The project will be able to handle 3 million metric tons a year in its first phase, with annual capacity to increase to 5 million tons by 2021.

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