30 December 2011 10:08 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Sinopec is planning to produce 9.9m tonnes of ethylene in 2012, up by 0.3% from the previous year, a company source said on Friday.
The growth rate is down from the 8.7% year on year growth target for 2011.
The oil giant lowered its targeted growth for its ethylene output, because of negative production margins for ethylene since the second half of 2011, the source said.
Sinopec may import ethylene to feed its derivate plants, primarily polyolefin plants, if the import cost is lower than producing the feedstock itself, the source added.
Sinopec’s refineries are expected to refine 227m tonnes of crude in 2012, up by 3.3% year on year.
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