Sinopec Starts Operations at its Largest Petrochemical Port, Welcomes Huge Crude Tanker from the Middle East
As per the latest announcement made by China's energy and chemical giant, Sinopec, operations at the China's largest petrochemical port have started with the successful docking and unloading of the New Renown, a very large crude carrier welcomed from the Middle East. The tanker arrived at 300,000-ton crude oil terminal of Sinopec Zhongke Refinery Port, which is the part of Zhanjiang Integrated Refinery and Petrochemical Complex. The Zhanjiang Petrochemical Complex is one of the biggest projects under construction by Sinopec Corporation, and is also a part of the Guangdong Province's 13th Five-Year Plan. The petrochemical port is located almost 1100 meters from Sinopec's refinery and possesses eight terminals which include 300,000-ton crude oil berth, 100,000-ton oil berth, and other supporting facilities making the total capacity up to 34 million tons per year. The terminal is aimed at fetching refined oil and chemical products for Sinopec's core domestic market, in addition to offering direct access to global exports thereby enhancing company’s competitiveness within the industry. A total of more than 40 billion CNY has been invested in the first phase of the project and after its completion, it is estimated that refinery output will exceed 60 billion CNY. In addition to auxiliary supporting facilities, the company is also aiming to add 10mn tons of refined crude oil capacity and 800,000 tons of Ethylene units per annum.