Refining Operations

The total processing volume increased dramatically. This was accomplished through expanding export and improving domestic sales of refined oil products by combining production and sales, and providing feedstock for chemicals production with full efforts. The annual crude processing volume was 246 million tonnes, increased by 5.84 million tonnes year on year, up by 2.4%. The output of refined oil products reached 155 million tonnes, up by 2.7%.

Refined oil product mix was further improved. We strengthened integration of production and sales, optimized production schemes and steadily adjusted product slate. We produced more gasoline, jet fuel and light chemical feedstock and less diesel to reduce the diesel-gasoline ratio. The annual gasoline production volume increased by 7.3%, and jet fuel output was up by 7.6%. The diesel-gasoline production ratio was 1.06∶1, down by 0.11 unit compared with last year.

Quality and efficiency were promoted steadily. Our new FCC unit was smoothly put into production in the Jinan subsidiary. Jet fuel production expansion revamping were completed in Yangzi petrochemical subsidiary, Shanghai petrochemical subsidiary and Jingmen petrochemical subsidiary. Our in-house sulfuric acid alkylation technology was commercialized in Shijiazhuang petrochemical subsidiary. We completed facility constructions for refined oil products export in Tianjin petrochemical subsidiary and Shanghai petrochemical subsidiary, reaching an export volume capacity of 30 million tonnes per year. Our refining development structure has been constantly optimized, and the foundation for further development was continuously strengthened.

Quality upgrading of refined oil products was successfully completed. We pressed ahead quality upgrading projects, optimized production and product slate, combined production and sales, and completed the quality upgrading for GB VI ahead of schedule. We supplied upgraded products to Henan in May, to Hainan in July, to Guangdong, Jiangsu, Tianjin, Shanghai and Kunming in August, and nationwide in October. This maintained our leading advantage in refined oil products’ quality upgrading in China.