Xin Hua She·2025-08-22 02:27Core Viewpoint - China National Offshore Oil Corporation (CNOOC) announced the completion of the Dasha Petrochemical Refining and Integration Project in Ningbo, Zhejiang, which is significant for enhancing the efficient conversion of heavy oil and improving the self-sufficiency of high-end chemical materials [2]. Investment and Production Capacity - The total investment for the project is 21 billion yuan, with core facilities having an annual production capacity of 3.2 million tons [2]. - The project can produce 1.2 million tons of polymer-grade ethylene and propylene annually, which are essential raw materials for everyday products such as mineral water bottles, food packaging bags, and synthetic clothing [2]. Industry Impact - The Dasha Petrochemical project will increase the annual production capacity of olefins to 1.8 million tons, making it the largest heavy oil direct conversion to olefins production base in the country [2]. - The completion of this project will further enhance China's core chemical process and equipment self-construction capabilities, leading the petrochemical industry towards refinement and greening [2].