Core Viewpoint - China National Offshore Oil Corporation (CNOOC) successfully launched the fifth phase of the Dasha Petrochemical project, marking a significant milestone in the development of integrated refining and chemical projects in China [1] Group 1: Project Development - The Dasha Petrochemical project has achieved a successful first-time operation, indicating effective project execution and operational readiness [1] - The project is located in Ningbo, Zhejiang, and is part of a larger initiative to enhance China's refining and chemical capabilities [1] Group 2: Technological Innovation - The core technology used in the project is a domestically developed complete set of heavy oil direct cracking technology, which allows for the conversion of heavy oil into chemical products such as polypropylene [1] - This technological advancement is expected to promote efficient conversion of heavy oil, aligning with national goals for energy efficiency and resource utilization [1]

Core Insights - The successful operation of two 3 million tons/year RTC units at Sinopec Zhenhai Refining & Chemical Company demonstrates the advanced and reliable nature of the RTC technology developed by Sinopec Petroleum and Chemical Research Institute [1][2] - The RTC units are integral to the second phase of the Zhenhai refining project, producing low-carbon olefins while significantly reducing diesel yield, addressing the surplus of refined oil products with an efficient technical solution [1] Summary by Sections Technology and Performance - The RTC technology has achieved an ethylene yield greater than 4.5% and a stable propylene yield above 19%, surpassing initial expectations [1] - Key operational parameters, including reaction temperature and steam usage, are below design values, indicating high efficiency in heavy oil conversion [1] - The purified oil slurry meets stringent requirements for downstream hydrocracking and hydrogen production units, ensuring a stable raw material supply chain [1] Innovation and Development - The design process for the RTC units incorporated lessons from previous large-scale RTC projects, focusing on energy savings and breakthrough technical indicators [2] - The project team optimized steam usage to balance product structure, conducting numerous model calculations and pilot tests [2] - An intelligent data collection platform was established to monitor over 100 key operational parameters in real-time, enhancing operational efficiency [2] Industry Recognition and Intellectual Property - The RTC technology has been licensed for six industrial units, with a total processing capacity of 17.4 million tons/year, gaining recognition from national ministries and refining enterprises [2] - The Sinopec Petroleum and Chemical Research Institute has applied for 14 national invention patents related to RTC technology, all of which have been granted, along with 15 patents authorized in countries such as the USA, Japan, Singapore, and India [2]