On June 1, 2015, Sinopec held a video conference on oil quality upgrading work in Beijing and implemented the State Council's requirements for the “Accelerate Product Quality Upgrade Program†to fully deploy a new round of oil quality upgrade work. The meeting requested that Sinopec's subordinate refineries complete the upgrade project 3 months earlier than the state regulations. At the same time, Sinopec Corp. arranged 13 upgrades of the “National VI†project in advance among 6 companies.
Sinopec Nationally Implemented Five National Standards for Gasoline and Diesel on January 1, 2017
On April 28, 2015, the executive meeting of the State Council and the seven ministries and commissions of the country jointly announced plans to accelerate the production and supply of clean oil products. The first is to expand the scope. Starting from January 1, 2016, it will implement the national five-vehicle gasoline and diesel quality standards in 11 provinces and cities in the east. The second is the implementation in advance. The time for the implementation of the national five- grade gasoline and diesel fuel for the country will be set from the original date. January 1, 2018, advance to January 1, 2017; Third, for ordinary diesel, the nationwide implementation of sulfur content of no more than 50ppm (equivalent to the national standard) quality standard, 2018 From January 1st onwards, sulfur content of no more than 10ppm (equivalent to the National Five Standards) quality standard shall be implemented nationwide.
At the meeting, Sinopec requested that its refineries accelerate their pace, establish a management mechanism that will force them to supply the country's five oil products ahead of schedule at the national time. Among them, Sinopec Eastern Region refineries will be completed by October 1 this year, and the other refineries in other regions will be completed by October 1, next year. The quality upgrade project for ordinary diesel with sulfur content no greater than 10ppm (equivalent to the National Five Standard) is Completed before October 1, 2017.
At present, Sinopec gas stations have already supplied five oil products to Beijing, Shanghai and other seven provinces and cities in advance. Among them, in 2012 to Beijing, in 2013 to Shanghai and Jiangsu 8 cities along the river, in 2014 to Guangdong, Shaanxi, Zhejiang Hangzhou and Jiahu area and Tianjin to supply the country five oil products.
Up to now, 70% of gasoline production capacity and 40% of vehicle diesel capacity have reached the five-nation standard in Sinopec's subordinate refineries. In terms of gasoline, Sinopec's subordinate refinery has a cumulative production capacity of 39 million tons of gasoline, which accounts for 70% of the total gasoline production capacity. As for diesel, the cumulative production capacity of Sinopec's subordinate refineries is 31 million tons of diesel fuel, accounting for 40 percent of the total diesel production capacity. %.
At the same time, Sinopec is in the process of deploying 13 "Six National" projects in advance for six companies. Sinopec told reporters that from 2000 to 2014, Sinopec has invested 261.5 billion yuan in the refining sector, of which 32.161 billion yuan in 2012.
According to Li Li, Director of the Research and Strategy Center of Anxious thinks, the current environmental protection situation in China is becoming tighter. Sinopec will upgrade its oil products in advance and will cause certain technical pressure on competitors, and it can also push the government to do more things in terms of supervision and regulation. .
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