rongsheng petro chemical made in china

BEIJING, Aug 14 (Reuters) - Rongsheng Petrochemical , the listed arm of a major shareholder in one of China’s biggest private oil refineries, expects demand for energy and chemical products to return to normal in the country in the second half of this year.

The Zhejiang-based Chinese private refiner saw profit more than triple in the first half of 2020, bolstered by the launch of its 400,000 barrel-per-day Zhejiang Petrochemical Co (ZPC), according to a stock exchange filing earlier this week.

Rongsheng expects to start trial operations of the second phase of the refining project, adding another 400,000 bpd of refining capacity and 1.4 million tonnes of ethylene production capacity in the fourth quarter of 2020.

“We expect the effects of the coronavirus pandemic on energy and chemicals to have basically faded in spite of the possibility of new waves of outbreak,” said Quan Weiying, board secretary of Rongsheng, in response to Reuters questions in an online briefing.

But Li Shuirong, president of Rongsheng, told the briefing that it was still in the process of applying for an export quota and would adjust production based on market demand. (Reporting by Muyu Xu and Chen Aizhu; Editing by Jacqueline Wong)

Rongsheng Petrochemical Co., Ltd. engages in the research, development, production, and sale of chemical, oil, and polyester products. It offers gasoline, diesel fuel, kerosene, paraxylene, ethylene glycol, styrene 156, m-xylene, polyethylene, polypropylene, EVA, polycarbonate, ABS, PTA, PIA, filament, bottle flakes, and film. The company also offers olefins and their downstream, aromatics and their downstream, oil products, etc., which are widely used in covering new energy, new materials, organic chemicals, synthetic fibers, synthetic resins, Synthetic rubber, oil products, and other fields. The company was founded in 1995 and is based in Hangzhou, China. Rongsheng Petrochemical Co., Ltd. is a subsidiary of Zhejiang Rongsheng Holding Group Co., Ltd.

Financial Associated Press, January 12 - Rongsheng Petrochemical announced that the 40 million T / a refining and chemical integration project (phase II) of Zhejiang Petrochemical, a holding subsidiary, was fully put into operation. Up to now, the oil refining, aromatics, ethylene and downstream chemical products units in phase II of the project have been fully put into commissioning, and the whole process has been opened. The company will further improve the commissioning of relevant process parameters and improve the production and operation level.

Gasoline consumption is expected to pick up while jet fuel demand may take longer to recover, Chen Hongbing, deputy general manager at Rongsheng Petrochemical told a forum at the 38th Annual Asia Pacific Petroleum Conference (APPEC). Financial Post Top Stories

China"s refiners are optimistic about the likelihood of economic recovery in Asia"s top consuming country in the fourth quarter and into 2023 as pandemic control measures ease, helping to boost domestic oil product demand, according to the China-focused panel discussion at the S&P Global Commodity Insights Asia Pacific Petroleum Conference in Singapore Sept. 28.

"The toughest moment has passed. Restoring consumers" confidence is what the government needs to do and is doing," said Sun Xin, a director with Shenghong Petrochemical International, a trading desk of the greenfield Shenghong Petrochemical refinery complex in Jiangsu province.

"We have seen some green shoots already in China"s economy. Especially in September, we see more congestion in terms of transportation. We see a better run rate at the refineries," said Chen Hongbin, deputy GM of Rongsheng Petrochemical (Singapore).

Rongsheng is a trading arm of the privately-held refining complex Zhejiang Petroleum & Chemical, which restarted its 200,000 b/d No.4 CDU in last week after operations were suspended for seven months, and lifted run rates to around 95% of its nameplate capacity of 800,000 b/d from 83% in August, S&P Global data showed.

Wu Qiunan, the chief economist of the state-owned PetroChina International, said on the panel that China"s strong EV sales in 2022 also posed a threat to gasoline demand recovery. The PetroChina Planning & Engineering Institute has forecast the EV uptake will result in China"s gasoline demand peaking in 2026.

Petrochemical-oriented refineries with integrated value chains and economies of scale are expected to survive the intensive competition amid capacity surplus, the panelists said.

Wu said China"s new refineries were integrated with high yields of petrochemical products to replace imports when oil product demand growth slows, ruling out the small and simple refineries.

Beijing has set a target of capping China"s refining capacity at 20 million b/d in 2025. PetroChina"s 400,000 b/d Guangdong Petrochemical and the 320,000 b/d Shenghong Petrochemical refineries are scheduled to commission in 2022, while around 149,000 b/d of independent refining capacity was set to be phased out, S&P Global data showed.

Sun noted that refining and petrochemical bases help to lower transaction and logistics costs and maximize scale, while expanding the business chain to renewable energy, CCUS projects and new materials will help the company to compete in the future.

RONGSHENG PETROCHEMICAL CO., LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of chemicals and chemical fibers. The Company’s main products include aromatics, phosphotungstic acid (PTA), polyethylene terephthalate (PET) chips, terylene pre-oriented yarns (POYs), terylene fully drawn yarns (FDYs) and terylene draw textured yarns (DTYs), among others. The Company distributes its products in domestic market and to...More

The world’s largest chemical company will soon be in China! The merger of chemical giants Sinochem and ChemChina has recently been approved, thus, paving the way for Sinochem Holdings, a mighty single organisation with estimated sales of more than 144 billion dollars! In this background, we bring to you the top 10 chemical companies in China making headlines.

The merger of the two state-owned enterprises Sinochem and Chem­China is now in progress. Once complete, the new company —  Sinochem Holdings will be established which will hold 100 % stake of both Sinochem and ChemChina. Wholly owned by Sasac (state-owned assets supervision and administration commission), this will be the world’s largest chemical company which will focus on the three key sectors of “life science, material science, and environmental science”, states Sinochem CEO Yang Hua.

“It’s all about ‘transformation’, and after the merger, the new company will want to benchmark itself only against the biggest and best chemical companies on earth,” opined Ning Gaoning, who currently heads both the merging state-owned enterprises.

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.

Syngenta has been a Chinese company since it was acquired by ChemChina for about 43 billion dollars, only in 2000, from a merger of Novartis and AstraZeneca’s agrochemical divisions. The above sales figure is from 2019, but the ongoing consolidation in the agrochemical industry means that the Syngenta Group continues to grow rapidly. In January 2020, ChemChina merged its related business with Sinochem. Syngenta Group China is the market leader in crop protection and crop nutrition materials in the People’s Republic.

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.

This state-owned company focuses on fertilizer production. Synthetic ammonia, urea, pentaerythritol, nitramine, sodium formate, and polyformaldehyde are among the product portfolio. Various types of chemical fertilizers, including nitrogenous phosphate fertilizers such as monoammonium phosphate or diammonium phosphate, are an essential part of the business. The production of separators for lithium batteries is also impressive against the background of the new boom in Chinese e-mobility, at least for the moment.

The Tongkun Group Co.’s core business is chemical fiber production. Somewhere, the group acquired the nickname ‘Walmart of polyester textile filaments’. With their production, they are number one in the world. But the Tongkun Group has also skillfully invested in various facilities throughout the textile industry value chain, from refining and PTA to polyester spinning and texturing. The Group has just invested around 7.8 billion dollars in new production facilities in Qinzhou in China’s southwestern province of Guangxi, where 600,000 tons of styrene, 2.8 million tons of aromatics, and five million tons of PTA will be produced per year in the future. A new project of the busy Chinese chemical company is also being built in Shuyang, Jiangsu Province.