Petrochemicals play a vital role in the economy of any nation. The products of the industry are the building blocks in many industries as they deepen the forward and backward linkages of the petroleum sector with the ...Petrochemicals play a vital role in the economy of any nation. The products of the industry are the building blocks in many industries as they deepen the forward and backward linkages of the petroleum sector with the rest of the economy. The industry uses a variety of hydrocarbon feedstock such as different cuts of naphtha from refinery and natural gas. One of the problems facing the industry is lack of reliable feedstock supplies. Nigeria has the potential to be a major petrochemicals producer. With proven gas reserves currently estimated at 187 tcf, not much has been accomplished with respect to the effective exploitation and utilization of this resource as most of the nation＇s natural gas production has been flared, liquefied for export or re-injected to enhance greater crude oil recovery. It has become imperative to further find ways to exploit and utilize the nation＇s natural gas reserves and translate it to the improvement of the nation＇s economy. Steam reforming of natural gas is one of the avenues for conversion of natural gas to petrochemicals. This paper, however, reviews various ways of utilizing natural gas, examines the process details of steam reforming of natural gas as a route to optimized natural gas utilization and industrialization in Nigeria. Syngas （synthesis gas） is a versatile feedstock for most petrochemicals and chemical intermediates. Thus utilizing natural gas in this way would strengthen the petrochemical industry making it possible for the country to change from raw materials to value-added products supplier, boost the economy and solve the ＂hydra-headed＂ problem of unemployment in Nigeria with its multiplier employment effect.展开更多
In efforts to overcome an foreseeable energy crisis predicated on limited oil and gas supplies, reserves; economic variations facing the world, and of course the environmental side effects of fossil fuels, an urgent n...In efforts to overcome an foreseeable energy crisis predicated on limited oil and gas supplies, reserves; economic variations facing the world, and of course the environmental side effects of fossil fuels, an urgent need for energy sources that provide sustainable, safe and economic supplies for the world is imperative. The current fossil fuel energy system must be improved to ensure a better and cleaner transportation future for the world. Despite the fact that the marine transportation sector consumes only 5% of global petroleum production; it is responsible for 15% of the world NOx and SOx emissions. These figures must be the engine that powers the scientific research worldwide to develop new solutions for a very old energy problem. In this paper, the most effective types of marine power plants were discussed. The history of the development of each type was presented first and the technical aspects were discussed second. Also, the fuel ceils as a new type of power plants used in marine sector were briefed to give a complete overview of the past, present and future of the marine power plants development. Based on the increased worldwide concerns regarding harmful emissions, many researchers have introduced solutions to this problem, including the adoption of new cleaner fuels. This paper was guided using the same trend and by implementing the hydrogen as fuel for marine internal combustion engine, gas turbines, and fuel cells.展开更多
In order to meet the demand for gasoline quality upgrading, SINOPEC Anqing Branch Com- pany has retrofitted the DCC unit with the MGD technology and equipped the FCC unit with the MIP technology. This article makes an...In order to meet the demand for gasoline quality upgrading, SINOPEC Anqing Branch Com- pany has retrofitted the DCC unit with the MGD technology and equipped the FCC unit with the MIP technology. This article makes an analysis and comparison on commercial application of the MIP and the DCC/MGD processes in terms of technology and economics while focusing on their specific features and methods for maximization of their economic benefits.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
Recently ＂the hydrocarcking technology aimed at prodigiously boosting jet fuel yield along with improvement of tail-oil quality＂developed by the SINOPEC Research Institute of Petroleum Processing（RIPP） has been su...Recently ＂the hydrocarcking technology aimed at prodigiously boosting jet fuel yield along with improvement of tail-oil quality＂developed by the SINOPEC Research Institute of Petroleum Processing（RIPP） has been successfully applied in commercial scale on the 2.0 Mt/a hydrocracking unit at the SINOPEC Yanshan Branch Company, resulting in implementation of triple functions, viz.： boosting the jet fuel yield, reducing the diesel fuel output and improving the tail-oil quality. This technique has brought about obvious economic and environmental benefts, which can provide a mate-rial basis to bridge the demand gap in jet fuel supply at the new Beijing Airport and will serve as a good ex-ample of SINOPEC’s efforts in the area of transforma-tion of production mode, structure adjustment, product quality upgrading and enhancement of economic ben-efts at the refning enterprise.展开更多
CCPIT Sub-Council of Petrochemical Industry,established in August 1988, is a non-governmental foreign trade organization with 73 members including SINOPEC and other Chinese petroleum and petrochemical enterprises and ...CCPIT Sub-Council of Petrochemical Industry,established in August 1988, is a non-governmental foreign trade organization with 73 members including SINOPEC and other Chinese petroleum and petrochemical enterprises and organizations.展开更多
In the context of economic globalization and economic crisis, China＇ s oil security issues are not merely related to energy access and consumption, but also involve many aspects of the political and economic factors ...In the context of economic globalization and economic crisis, China＇ s oil security issues are not merely related to energy access and consumption, but also involve many aspects of the political and economic factors which are becoming increasingly complex. In view of this, we should not only need to attach great importance to energy security, making full use of ＂two markets and two resources＂ to take a variety of channels to ensure oil supply diversification, but also should develop oil security strategy from a strategic level, and actively participate in international oil trading system. Furthermore, we should support China＇ s oil enterprises from the political, financial and other aspects, so as to ensure adequate, stable and affordable supply ofoil to meet China＇ s economic construction requirement.展开更多
文摘Petrochemicals play a vital role in the economy of any nation. The products of the industry are the building blocks in many industries as they deepen the forward and backward linkages of the petroleum sector with the rest of the economy. The industry uses a variety of hydrocarbon feedstock such as different cuts of naphtha from refinery and natural gas. One of the problems facing the industry is lack of reliable feedstock supplies. Nigeria has the potential to be a major petrochemicals producer. With proven gas reserves currently estimated at 187 tcf, not much has been accomplished with respect to the effective exploitation and utilization of this resource as most of the nation＇s natural gas production has been flared, liquefied for export or re-injected to enhance greater crude oil recovery. It has become imperative to further find ways to exploit and utilize the nation＇s natural gas reserves and translate it to the improvement of the nation＇s economy. Steam reforming of natural gas is one of the avenues for conversion of natural gas to petrochemicals. This paper, however, reviews various ways of utilizing natural gas, examines the process details of steam reforming of natural gas as a route to optimized natural gas utilization and industrialization in Nigeria. Syngas （synthesis gas） is a versatile feedstock for most petrochemicals and chemical intermediates. Thus utilizing natural gas in this way would strengthen the petrochemical industry making it possible for the country to change from raw materials to value-added products supplier, boost the economy and solve the ＂hydra-headed＂ problem of unemployment in Nigeria with its multiplier employment effect.
文摘In efforts to overcome an foreseeable energy crisis predicated on limited oil and gas supplies, reserves; economic variations facing the world, and of course the environmental side effects of fossil fuels, an urgent need for energy sources that provide sustainable, safe and economic supplies for the world is imperative. The current fossil fuel energy system must be improved to ensure a better and cleaner transportation future for the world. Despite the fact that the marine transportation sector consumes only 5% of global petroleum production; it is responsible for 15% of the world NOx and SOx emissions. These figures must be the engine that powers the scientific research worldwide to develop new solutions for a very old energy problem. In this paper, the most effective types of marine power plants were discussed. The history of the development of each type was presented first and the technical aspects were discussed second. Also, the fuel ceils as a new type of power plants used in marine sector were briefed to give a complete overview of the past, present and future of the marine power plants development. Based on the increased worldwide concerns regarding harmful emissions, many researchers have introduced solutions to this problem, including the adoption of new cleaner fuels. This paper was guided using the same trend and by implementing the hydrogen as fuel for marine internal combustion engine, gas turbines, and fuel cells.
文摘In order to meet the demand for gasoline quality upgrading, SINOPEC Anqing Branch Com- pany has retrofitted the DCC unit with the MGD technology and equipped the FCC unit with the MIP technology. This article makes an analysis and comparison on commercial application of the MIP and the DCC/MGD processes in terms of technology and economics while focusing on their specific features and methods for maximization of their economic benefits.
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.
文摘Recently ＂the hydrocarcking technology aimed at prodigiously boosting jet fuel yield along with improvement of tail-oil quality＂developed by the SINOPEC Research Institute of Petroleum Processing（RIPP） has been successfully applied in commercial scale on the 2.0 Mt/a hydrocracking unit at the SINOPEC Yanshan Branch Company, resulting in implementation of triple functions, viz.： boosting the jet fuel yield, reducing the diesel fuel output and improving the tail-oil quality. This technique has brought about obvious economic and environmental benefts, which can provide a mate-rial basis to bridge the demand gap in jet fuel supply at the new Beijing Airport and will serve as a good ex-ample of SINOPEC’s efforts in the area of transforma-tion of production mode, structure adjustment, product quality upgrading and enhancement of economic ben-efts at the refning enterprise.
文摘CCPIT Sub-Council of Petrochemical Industry,established in August 1988, is a non-governmental foreign trade organization with 73 members including SINOPEC and other Chinese petroleum and petrochemical enterprises and organizations.
文摘In the context of economic globalization and economic crisis, China＇ s oil security issues are not merely related to energy access and consumption, but also involve many aspects of the political and economic factors which are becoming increasingly complex. In view of this, we should not only need to attach great importance to energy security, making full use of ＂two markets and two resources＂ to take a variety of channels to ensure oil supply diversification, but also should develop oil security strategy from a strategic level, and actively participate in international oil trading system. Furthermore, we should support China＇ s oil enterprises from the political, financial and other aspects, so as to ensure adequate, stable and affordable supply ofoil to meet China＇ s economic construction requirement.
