China apos;s New Commercial Crude Storage Refineries In 2021
Nov 18 (Reuters) - Chinese private refiners, storage firms and port operators are expected to lead the building of commercial crude oil tank farms in 2021, overshadowing state refiners and tour phượng hoàng cổ trấn extending a storage boom that contributed to record stockpiles this year.
An estimated 25.4 million cubic metres, or 164 million barrels, of tank space is expected to be added between the start of the fourth quarter this year and the end of 2022, according to a Reuters tally based on interviews with companies and company statements and local media reports.
Of these, about 100 million barrels, equivalent to nine days of China's crude imports, would come from investors that exclude state refiners Sinopec and PetroChina and will likely be ready for use in 2021. Firms include private refiners such as Hengli Petrochemical and Shandong Hongrun Group, port authorities in Qingdao and Rizhao, as well as storage operator Zhonggu in east China's Zhoushan free trade zone.
The list below shows planned commercial storage projects as well as planned crude distillation units (CDUs) in China. Commercial storage (Unit: million cubic metres) Owners Location Capacity Startup Bonded Hengli Dalian 3.6 Q4 2020 yes Petrochemical Rizhao port Rizhao 1.6 Dec 2020 Dekun Energy Rizhao 2 Q4 2020 yes Qingdao port, Qingdao 0.6 planning Qilu Expressway investment Hongrun Weifang 2.2 Q1 2021 yes Hongrun Weifang 2.8 Q4 2021 Qingdao port Dongjiakou, 1.6 H2 2020 Qingdao Yantai port Yantai 1.2 Aug 2021 Sinopec Luoyang 0.8 2021 May complete construction Sinopec Yueyang 0.8 Jun-21 Sinopec Zhanjiang 1.5 end 2020 Sinopec Kuche 0.8 under construction, no timeline Bohai Hebei Huanghuagang 0.298 end 2020 Investment Group port Zhonggu Storage Zhoushan 0.6 end 2021 yes and Transportation (Zhoushan) Co Zhonggu Storage Zhoushan 0.645 end 2022 yes and Transportation (Zhoushan) Co Sinopec Tianjin 1.6 under construction,no timeline Sinopec Maoming 1.6 planning PetroChina Jieyang 1.2 2022 June New CDUs (unit: 1,000 bpd) Investor Location CDU Size Start-up ZPC Zhoushan 200 Nov-2020 ZPC Zhoushan 200 Q2-2021 Sinopec Luoyang Luoyang, Henan 40 Q1-2021 Sinopec Beihai Beihai, 30 Jun-2021 Guangxi Hebei Xinhai Cangzhou,Hebei 160 end-2021 Shenghong Lianyungang, 320 end-2021 Petrochemical Jiangsu Source: Reuters, companies (cubic metres =6.3 barrels) (Reporting by Muyu Xu in Beijing and kynghidongduong.vn Chen Aizhu in Singapore; Additional reporting by Beijing newsroom; Editing by Florence Tan and Richard Pullin)
