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Weekly Report of Petrochemical Industry: Oil price stabilization, oil refining + chemical industry profits are expected to improve substantially
Infrastructure has been accelerated. The water intake project of Huainan Modern Coal and Chemical Industry Base has been basically completed, and 82% of the total works have been completed in the comprehensive wharf project; Huaibei Synthetic Material Base has opened the main pavement of the North Road of the Base to traffic; the housing and residential quarters have been basically renovated and the incubator project has been preliminarily completed; the first phase of the Phoenix Flake Standardized Factory of Anqing Chemical New Materials Base has been completed and delivered. For use, the first phase of the project foundation of the public pipe gallery is completed; the new road of 5.8 kilometers of Dingyuan Salt Chemical Base is completed; the sewage treatment plant, the new public rental house and the main part of the resettlement building are completed.
Major projects have been vigorously promoted. Huainan Zhongan Coal-to-Olefin Project completed 5.6 billion yuan of investment in the whole year, with a cumulative investment of 11.6 billion yuan. Huaibei Coal Coking Phase II was comprehensively promoted, with a total investment of 1 billion yuan. It is expected to be completed and put into operation in October this year. The Shuguang coal hydrogen production project in Anqing was basically completed, and the share ratio adjustment of butyl octanol project was approved by Sinopec. Dingyuan Huaplastic Phase I project capacity utilization rate reached 85%, of which PVC capacity reached more than 1000 tons per day. In the whole year, 15 new projects such as Danbao Resin and 7 new projects such as Yanchun Plexiglass have been started, and an investment of 2.3 billion yuan has been completed. The early stage work of the second phase of Huaplastic and the second phase of Quansheng will be accelerated, and construction will start substantively this year.