Fujian oil refining and chemical projects have been completed and put into operation with fruitful results. From January to November, Fujian United Petrochemical Company achieved sales revenue of nearly 53 billion yuan, profit of nearly 800 million yuan and tax of more than 7 billion yuan.
Fujian refinery, the predecessor of Fujian Refining and chemical project, is the result of cooperation between SINOPEC and Fujian Province for more than 20 years. Fujian Refining and chemical integration project was officially completed and put into operation in November last year, with a total investment of nearly 40 billion yuan, and the refining capacity has been increased to 12 million tons / year.
With the completion of the oil refining and chemical project, Fujian Province has become a major petrochemical province from a small petrochemical province that does not produce a drop of oil. The refining capacity of Fujian United Petrochemical Company ranks eighth in China, and ethylene ranks seventh in China. After the oil refining and chemical projects were put into operation, Sinopec's market share in Fujian Province increased rapidly. In the first 10 months of this year, Sinopec's sales volume of refined oil in Fujian was 4.204 million tons, accounting for 72.9% of the total sales volume of the whole province. The industrial output value of Fujian Petrochemical industry reached 132.6 billion yuan, a year-on-year increase of 35.7%, and the output of main petrochemical products showed a sustained growth trend.