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Energy

Sinopec's Beihai to complete refining structure upgrade in June 2021

FILE PHOTO: Liquefied natural gas (LNG) trucks are seen at Sinopec's Beihai LNG terminal in Guangxi Zhuang Autonomous Region, China July 24, 2018. Picture taken July 24, 2018. REUTERS/Stringer

BEIJING (Reuters) - Sinopec's 600028.SS0386.HK Beihai refinery is expected to complete its refining structure upgrade project in June 2021, three months behind schedule, the company said on Friday.

The refinery, located in southern Chinese city Beihai in Guangxi region, invested 987 million yuan ($148.81 million) in 2019 to build a light cycle oil to aromatic and gasoline (LTAG) unit with an annual capacity of 1.2 million tonnes, as well as a 30,000 cubic metres per hour hydrogen generation unit.

The project is expected to expand Beihai’s crude oil refining capacity to 8 million tonnes per annum, or 160,000 barrel-per-day, from current 6.5 million tonnes.

Sinopec did not give a reason for the delay in its statement.

($1 = 6.6326 Chinese yuan)

(This story corrects to add ‘upgrade’ in headline.)

Reporting by Muyu Xu in Beijing and Chen Aizhu in Singapore; Editing by Himani Sarkar

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