28 June 2012 03:17 [Source: ICIS news]
Correction: In the ICIS news story headlined "China lubricants, engine oil consumption to hit 11.8m t/yr in '15" dated 28 June 2012, please read in the fifth paragraph ... China’s domestic Group II base oil production last year stood at 1.31m tonnes ... instead of ... China’s domestic base oil production last year stood at 131,000 tonnes ... A corrected story follows.
Asia’s biggest economy is expected to consume 8.1m tonnes of lubricants in 2015, toppling the
Vehicle ownership in China is the second highest in the world at 108m last year, the Sinopec Lubricant official said.
China imported 2.12m tonnes of base oil in 2011, 28% or 600,000 tonnes of which are Group II base oils, while the rest is a mixture of Group 1 and Group III base oils.
To meet China’s growing demand for GP II base oils, Sinopec Yanshan is building a 450,000 tonne/year hydrogenation unit in the northern part of the country, said Ye.
The unit is expected to be fully operational in 2013 and will produce GP II+ and GP III base oil that meet the American Petroleum Institute (API) standards, Ye said.
Expansions to Sinopec Yanshan’s existing GP I base oil production unit at Maoming, along with building a 400,000 tonne/year GP III unit are planned. A GP II unit is currently being built in Jinan and will be operational by 2012, Ye said.
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