China grants approval to ExxonMobil for integrated refinery expansion and petrochemical project
FPCL is a joint venture between China Petrochemical Corporation (Sinopec) and the Fujian Provincial Government in Southeastern China. This approval, along with an earlier approval granted in 1996 for expansion of the Fujian Refinery, permits further development of the overall integrated project.
The Fujian venture will be a partnership between FPCL (50%), ExxonMobil (25%) and Saudi Aramco (25%). It will involve the construction of a new 600,000-tpy ethylene steam cracker, a 450,000-tpy polyethylene unit, and a 300,000-tpy polypropylene unit, together with chemical derivatives manufacturing units and related distribution and marketing facilities. The petrochemical complex will be integrated with the refinery, which will expand its existing 80,000-bpd capacity to 240,000 bpd.
The expanded refinery will be complemented with an exclusive petroleum products marketing joint venture which will supply wholesale and retail products throughout the province. The partners in the marketing JV will include Sinopec, ExxonMobil and Saudi Aramco.
"The Fujian site has excellent access to key chemical market areas of South and East China and to the Fujian fuel products market. Its development will further strengthen our position in Asia Pacific," said Rene Dahan, director and senior vice president of Exxon Mobil Corporation. "We are pleased to receive Chinese Government support for this important project and look forward to a long and fruitful partnership with FPCL, Sinopec and Saudi Aramco."
The formal approval of the Fujian Project follows an announcement of the agreement between ExxonMobil and Sinopec to jointly study the development of manufacturing and fuels marketing joint ventures in Guangdong Province.
Edited by David Nakamura
Managing Editor, Hydrocarbon Online