To adapt to the change in the demand of the oil refining market,two hydrocracking catalysts,RHC-1 and RHC-5,were developed to improve the quality of tail oil.The catalysts were designed based on the theory of selectiv...To adapt to the change in the demand of the oil refining market,two hydrocracking catalysts,RHC-1 and RHC-5,were developed to improve the quality of tail oil.The catalysts were designed based on the theory of selective ring-opening.By selecting more acidic molecular sieves,the problem of poor selectivity of conventional materials can be solved to properly match up to the hydrogenation performance of catalysts.Compared with the performance of previous catalysts,the quality of the tail oil achieved by the said catalysts is better,and the BMCI is reduced by 1—2 units.In the long cycle operation of the petroleum industry,the good quality of the tail oil has been verified and the adaptability of the process conditions is good.When the RHC-1 catalyst is used to process heavy feed under medium pressure,a BMCI value of about12 can be obtained along with a nearly 60%yield of tail oil.The total yield of chemical raw material(steaming cracking feed+catalytic reforming feed)can exceed 80%,and the hydrogen consumption has dropped by nearly 50%as compared to the conventional hydrocracking conversion rate.When processing a mixed CGO and VGO feed with the full conversion mode under a hydrogen pressure of 13.0 MPa,the RHC-5 catalyst can yield about 68.4%of heavy naphtha with a potential aromatic content of up to 50.6,while the total yield of chemical raw materials can reach more than 98%.The results of industrial application of these catalysts show that more than 30%of high quality tail oil can be obtained via processing of inferior quality feed,and its BMCI value can reach 10.7.The total yield of chemical raw materials can reach more than65%.The industrial operation process has implemented two operating cycles totaling 8 years.展开更多
Taiwan and China's Mainland signed the Economic Cooperation Framework Agreement （ECFA） on 29th June, 2010. The ECFA is a landmark bilateral trade agreement that can make Taiwan a new gateway to China's Mainl...Taiwan and China's Mainland signed the Economic Cooperation Framework Agreement （ECFA） on 29th June, 2010. The ECFA is a landmark bilateral trade agreement that can make Taiwan a new gateway to China's Mainland. However, the Taiwan Residents petrochemical industry would be very disappointed with the early harvest list as it excluded some critical export items. The purpose of this paper is to amend the understanding of the possible impact on petrochemical market after ECFA is enacted. The authors examine the cumulative daily response of stock prices to five announcements about the ECFA and evaluate the existence of the abnormal return. The authors use daily data from January 2010 to February 2011 to employ an event study approach. The empirical results suggest that the three ECFA announcement dates, as well as the signing date, show significantly negative abnormal return due to the prior positive cumulative response of Taiwan chemicals listed stock prices. This paper can provide the petrochemical industry manufacturer, owners, and investors with further insights into how chemicals stock returns react to a big event like ECFA.展开更多
基金the financial support from the SINOPEC(No.114016)
文摘To adapt to the change in the demand of the oil refining market,two hydrocracking catalysts,RHC-1 and RHC-5,were developed to improve the quality of tail oil.The catalysts were designed based on the theory of selective ring-opening.By selecting more acidic molecular sieves,the problem of poor selectivity of conventional materials can be solved to properly match up to the hydrogenation performance of catalysts.Compared with the performance of previous catalysts,the quality of the tail oil achieved by the said catalysts is better,and the BMCI is reduced by 1—2 units.In the long cycle operation of the petroleum industry,the good quality of the tail oil has been verified and the adaptability of the process conditions is good.When the RHC-1 catalyst is used to process heavy feed under medium pressure,a BMCI value of about12 can be obtained along with a nearly 60%yield of tail oil.The total yield of chemical raw material(steaming cracking feed+catalytic reforming feed)can exceed 80%,and the hydrogen consumption has dropped by nearly 50%as compared to the conventional hydrocracking conversion rate.When processing a mixed CGO and VGO feed with the full conversion mode under a hydrogen pressure of 13.0 MPa,the RHC-5 catalyst can yield about 68.4%of heavy naphtha with a potential aromatic content of up to 50.6,while the total yield of chemical raw materials can reach more than 98%.The results of industrial application of these catalysts show that more than 30%of high quality tail oil can be obtained via processing of inferior quality feed,and its BMCI value can reach 10.7.The total yield of chemical raw materials can reach more than65%.The industrial operation process has implemented two operating cycles totaling 8 years.
文摘Taiwan and China's Mainland signed the Economic Cooperation Framework Agreement （ECFA） on 29th June, 2010. The ECFA is a landmark bilateral trade agreement that can make Taiwan a new gateway to China's Mainland. However, the Taiwan Residents petrochemical industry would be very disappointed with the early harvest list as it excluded some critical export items. The purpose of this paper is to amend the understanding of the possible impact on petrochemical market after ECFA is enacted. The authors examine the cumulative daily response of stock prices to five announcements about the ECFA and evaluate the existence of the abnormal return. The authors use daily data from January 2010 to February 2011 to employ an event study approach. The empirical results suggest that the three ECFA announcement dates, as well as the signing date, show significantly negative abnormal return due to the prior positive cumulative response of Taiwan chemicals listed stock prices. This paper can provide the petrochemical industry manufacturer, owners, and investors with further insights into how chemicals stock returns react to a big event like ECFA.
