According to the latest report from the State Council Development Research Center, China's oil consumption is expected to reach 328 million tons this year, marking the country's entry into the ranks of major global oil consumers. Yuan Qingzhuo, an academician of the Chinese Academy of Engineering and chief engineer at Sinopec, highlighted that resource shortages, an unbalanced industrial structure, high production and distribution costs, and low profitability are significant challenges facing China's petrochemical industry. To enhance competitiveness, he emphasized the urgent need for faster structural adjustments.
Globally, total oil consumption stands at around 4 billion tons, with the United States, Japan, China, Germany, Russia, and South Korea accounting for half of this demand. Yuan Qinglu, another respected expert in the field, noted that by 2020, China’s refined oil demand is projected to be 2.3 times that of 2000, while the demand for three key synthetic materials will rise to 3.2 times the 2000 level. However, domestic oil production has only grown by about 0.9% annually in recent years, far behind the rising demand for refined products. Additionally, the refining and chemical industry faces challenges such as limited deep-processing capacity, low production of high-octane components, and insufficient hydrocracking and hydrotreating capabilities, which hinder the output of chemical light oil needed for future growth.
In 2002, the average net cash profit for China’s 18 major refineries was just 0.92 yuan per unit of equivalent distillation capacity, below the Asia-Pacific average. Meanwhile, the ethylene operating cost for major petrochemical companies was approximately $150 per ton, 10% higher than the regional average. These figures underscore the need for urgent reforms.
To address these issues, Yuan Qinglu proposed several key strategies. First, adjusting the layout of oil refining based on future crude oil resources and product demand, aiming to align with regional economic development. This includes establishing refineries near consumer markets and ensuring stable and convenient resource supply. The goal is to create integrated refinery zones in the Bohai Bay, Hangzhou Bay, and Pearl River Delta regions by 2020, supporting coordinated economic growth.
Second, restructuring equipment and product lines by increasing deep-processing capacity, optimizing processing technologies, and improving light oil yields. Maintaining a balanced ratio of diesel and gasoline, as well as enhancing the quality of high-grade fuels, will be crucial.
Third, promoting alternative fuels and natural gas-based vehicles to adapt to changing resource availability and market demands. These steps are essential for building a more sustainable and competitive petrochemical industry in China.
Milling Parts
Milled Parts,Miller Machine Shop,Cnc Machine Shop,Cnc Precision Machining,Precision Machining
Dongguan Changsheng Technology Co., Ltd , https://www.dgcsmachining.com