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Rongsheng petrochemical is one of the topmost Manufacturer delivering Textiles, Yarn & Fabrics and many more China DTY FDY PET goods. The factory of Rongsheng petrochemical is located in Hangzhou Zhejiang China. Rongsheng petrochemical is a well-known company located in China. Rongsheng petrochemical Description Name: Will Fu

Rongsheng Petrochemical (brand value up 43% to US$2.3 billion) achieved very strong growth this year, rising two places in the chemicals ranking and jumpingfrom 10th to 8th place amongst global chemicals brands. The Chinese brand owns various globally significant facilities, including an integrated refining-petrochemical complex with the refining capacity of 40 million tons per annum.

Rongsheng Petrochemical said on the interactive platform that its production and sales are booming. Generally speaking, rising oil prices will lead to rising raw material costs, but product prices will also rise accordingly.

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.

An integral part of the project includes a third agreement with Zhejiang Energy to invest in a retail fuel network. The companies plan to build a large scale retail network over the course of the next five years in the Zhejiang province. The retail business will be integrated with the Zhejiang Petrochemical complex as an outlet for the refined products produced.

China Petrochemical Corporation (Sinopec Group) is the largest producer of oil and petrochemical products in China. It is also the largest refining company and the third-largest chemical company in the world which adheres to global standards. The company’s vast product portfolio includes a wide range of petrochemical products, including synthetic resins, plastic fibers, synthetic monomers and polymers, chemical intermediates of all kinds, synthetic plastics, and chemical fertilizers. In 2019, Sinopec’s sales were down 7 percent, and the first quarter of 2020 was also difficult for the group due to the nationwide lockdown in China. However, as early as the second quarter, its finances have recovered.

PetroChina is the listed arm of China National Petroleum Corporation (CNPC). The corporation is active in producing and processing crude oil and gas, the production and marketing of products made from oil and gas, and the production of petrochemical products of all kinds. In 2019, even before the Corona crisis, the group’s sales had plunged 4 percent and profits as much as 56 percent. Completely undeterred, PetroChina is investing in more and more new large-scale plants, including one for the production of ethylene from ethane.

Hengli Petrochemical Co. is active in petroleum refining, petrochemical products, aromatics, PTA, polyester technical yarns, engineering plastics, and many more. In 2019, Hengli Petrochemical increased its sales by about two-thirds, not through acquisitions or mergers, but by opening proprietary production facilities. This year, the company is predicted to grow further, with a new ethylene cracker and a new plant to produce pure terephthalic acid (PTA) in the pipeline.

Rongsheng Petrochemical Co. is one of China’s leading private chemical companies and one of the very few that can compete in the league of large state-owned enterprises. Rongsheng Petrochemical manufactures petrochemical products and especially man-made fibers of all kinds. Aromatic hydrocarbons, PTA, and PET, are also produced. In PTA, the company is one of the largest producers in the world. In 2019, the first phase of a new ‘green’ composite site with an annual capacity of 40 million tons of crude oil had been put into operation in Zhoushan, Zhejiang.

Hengyi Petrochemical Co. is now the world’s largest producer of PTA and polyester fibers. The company has grown into a conglomerate with 35 subsidiaries that have been the market leader in chemical fiber production in China for the past five years. Production capacity is 13.5 million tons per year for PTA, 300,000 tons for CPL. Furthermore, it produces PET chips and every kind of polyester fiber imaginable. In 2019, sales plummeted by almost 10 percent, but profits nearly doubled. The group is currently investing in new facilities for the production of functional man-made fibers.

The Wanhua Chemical Group Co. is the world’s largest producer of MDI (methylene diphenyl diisocyanate) and also the world’s largest producer of ADI. In China, Wanhua Chemical is also the market leader in TDI (toluene diisocyanate). In addition to polyurethane products, the group also produces petrochemical products such as acrylic acid and acrylic ester and related products, as well as fine chemical products such as specialty aqueous adhesives (PUD) and PA emulsions. Since Wanhua Chemical expanded its MDI business by building large-scale plants, the company’s profits have exploded. However, as the global polyurethane market has begun to weaken, expansion plans in the U.S. have been scaled back.