Published on July 11, 2017
Zhejiang Petrochemical started construction of the first phase of its oil refining and petrochemical complex on the island of Zhoushan, near Shanghai, in Zhejiang province Petro China to commission new Mixed Xylene unit.
Zhejiang Petrochemical's project will consist of two 400,000 barrels-per-day oil refineries and two 1.4 million tonnes-a-year ethylene plants, as per report.
The project is part of Beijing's efforts to bring private investors into the country's state-controlled energy sector. It has also raised concerns of a growing domestic glut in oil products, especially in eastern China where diesel and gasoline demand eased.
