Petroleum resources should give priority to ensuring the development of chemical industry

China's ethylene industry, supported by the oil refining sector, experienced significant restructuring and transformation during the Ninth and Tenth Five-Year Plans. This period saw remarkable improvements in production scale, technology, and equipment levels. By 2005, China’s ethylene capacity reached 7.55 million tons, with an output of 7.555 million tons, placing it third globally. Compared to 2000, capacity grew by 69.7%, with an average annual increase of 11.2%, while production rose by 60.7%, reflecting a 10% annual growth rate. Looking at global petrochemical trends, large-scale and integrated operations have become more prominent. The integration of oil refining and chemical industries enhances resource efficiency, reduces costs, and strengthens market competitiveness. After joining the WTO, China's petrochemical sector faced increasing competition from both domestic and international markets. To improve global competitiveness, the industry must accelerate the development of integrated refining and chemical bases. National plans for oil refining and ethylene explicitly emphasize this integrated approach to achieve economies of scale and better resource utilization. Major integrated production bases include Yangzi and Shanghai Petrochemical. Yangzi has 8 million tons of crude refining capacity, 650,000 tons of ethylene, and 800,000 tons of paraxylene, along with a joint venture producing 600,000 tons of ethylene. Shanghai Petrochemical has 8.8 million tons of refining, 850,000 tons of ethylene, and 230,000 tons of paraxylene, plus 900,000 tons from Shanghai SECCO. Both aim to expand refining capacity to 10 million tons. Zhenhai Refining processes 20 million tons annually and is building a 1 million-ton ethylene project. Fushun Petrochemical, with 10 million tons of crude processing, produces 160,000 tons of ethylene and other chemicals. Xinjiang Dushanzi, Fujian, and Tianjin are also expanding to reach 10 million-ton refining and ethylene capacities. The refining and ethylene sectors are capital- and energy-intensive, requiring strict environmental and safety standards. Historically, China focused on transportation fuel, limiting chemical oil use. In 2004, chemical light oil accounted for only 8% of total oil consumption. However, as the economy grows and industrial structures upgrade, demand for ethylene and para-xylene will surge, intensifying supply-demand gaps. Projections show ethylene demand reaching 24 million tons in 2010 and 40 million tons in 2020, alongside rising needs for chemical fiber raw materials. Ethylene and fiber raw material industries depend heavily on chemical light oils like naphtha, which require support from the refining sector. Future development must align refining with these industries, especially for 10-million-ton crude processing bases linked to million-ton ethylene and fiber raw material facilities. Integration is key to boosting overall petrochemical competitiveness. Looking ahead, chemical light oil demand will grow faster than refined oil. The chemical industry offers long value chains and high added value, influencing multiple sectors. China should adjust its energy structure, implement oil substitution strategies, and prioritize chemical industry development using limited oil resources.

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