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

China's ethylene industry, supported by its oil refining sector, underwent significant restructuring and transformation during the Ninth and Tenth Five-Year Plans. This period saw remarkable improvements in production scale, technological standards, 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, ethylene capacity increased by 69.7% and production rose by 60.7%, reflecting average annual growth rates of 11.2% and 10.0%, respectively. Looking at global petrochemical trends, large-scale and integrated operations have become more prominent. The integration of oil refining and chemical industries has proven beneficial in improving resource utilization, reducing costs, and enhancing competitiveness. After joining the WTO, China’s petrochemical industry faced increasing competition from both domestic and international markets. To strengthen its position, the industry must accelerate the development of integrated refining and chemical bases. National plans have emphasized this integrated approach, aiming for economies of scale and improved resource efficiency. As a result, the future of China’s refining and chemical integration is becoming clearer. Major integrated bases include Yangzi and Shanghai Petrochemical. Yangzi has an 8 million-ton refining capacity, 650,000 tons of ethylene, and 800,000 tons of paraxylene, while Shanghai Petrochemical boasts 8.8 million tons of refining, 850,000 tons of ethylene, and 230,000 tons of paraxylene. Both companies plan to expand their refining capacities to 10 million tons. Zhenhai Refining, with a 20 million-ton annual processing capacity, will launch a 1 million-ton ethylene project during the Eleventh Five-Year Plan. Fushun Petrochemical, currently processing 10 million tons of crude oil, produces 160,000 tons of ethylene annually. Other projects, such as Xinjiang Dushanzi and Fujian Refinery, are also expanding to reach 10 million-ton refining capacities. Sichuan's 800,000-ton ethylene project was approved in 2005, with construction starting in 2006 and completion expected by 2008. Refining and ethylene are capital- and technology-intensive industries that require strict environmental and safety controls. Historically, China's oil resources were primarily used for energy, especially transportation fuel, leaving limited supply for the chemical industry. In 2004, only about 8% of total oil consumption and 9% of crude oil processing went to chemical use. However, with economic growth and industrial upgrading, demand for ethylene and para-xylene is expected to rise sharply. By 2010 and 2020, ethylene demand is projected to reach 24 million and 40 million tons, respectively, along with growing needs for chemical fiber raw materials. The development of ethylene and chemical fiber industries relies heavily on chemical light oils like naphtha, which depend on the refining sector. Therefore, future refining growth must align with chemical industry expansion. Integrated bases of 10 million tons of crude oil processing should be paired with 1 million-ton ethylene and 1 million-ton chemical fiber facilities. This synergy will enhance overall industry competitiveness. Looking ahead, chemical light oil demand will grow faster than refined oil. With a long industrial chain and high value, the chemical industry will drive related sectors. China should adjust its energy structure, promote oil substitution strategies, and prioritize chemical industry development using limited oil resources.

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