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Report: CNPC, PDVSA to revive 400,000 b/d greenfield refinery in South China

Platts reports that China National Petroleum Corp (CNPC) and Venezuela’s PDVSA recently revived the plan for a 20 million mt (MMT)/year (400,000 bpd) refinery in Guangdong, adding a 2.6 MMT/year aromatics plant and 1.2 MMT/year steam cracker to the project. This will be PetroChina’s fourth refinery in southern China, after the 12 MMT/year Guangxi plant, 10 MMT/year Sichuan facility, and 13 MMT/year Yunnan complex, and one of the largest in China.

The refinery will be built by the JV PetroChina/PDVSA Guangdong Petrochemical Co. Ltd., of which CNPC holds 60% and PDVSA 40%.

PetroChina’s refineries used to be concentrated in the north, close to onshore oil fields, and it would ship refined products to the consumption centers in eastern and southern China, Platts noted. Other state-owned oil companies are also expanding their refining capacities in South China.

Refining capacity in southern China, including Fujian, Guangdong, Hainan, Guangxi, Yunnan and Sichuan provinces, is currently 133.4 million mt/year, according to S&P Global Platts data.

The Guangdong project had obtained approval from the National Development and Reform Commission in 2012 and was originally scheduled to start up in 2015. According to the recent environmental assessment, the Guangdong refinery will be designed to process Merey 16 crude from Venezuela, Basra heavy crude from Iraq, and heavy crude from Iran.

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