Core Viewpoint - The successful commissioning of the 1.2 million tons per year ethylene unit at Guangxi Petrochemical marks a significant transition from a fuel-based refinery to a comprehensive refining and chemical enterprise, enhancing the petrochemical industry ecosystem in Southwest China [1][4]. Group 1: Production Capacity and Technology - The ethylene unit, contracted by Huanyu Engineering Co., Ltd., utilizes proprietary technology from China National Petroleum Corporation, capable of producing 1.2 million tons of polymer-grade ethylene, 616,000 tons of polymer-grade propylene, 400,000 tons of hydrogenated gasoline, and 35,000 tons of styrene annually [4]. - The unit will also produce over 20 types of chemical raw materials, products, and semi-finished products, including hydrogen, cracked C5, C9, and cracked fuel oil [4]. Group 2: Impact on Industry and Supply - The commissioning of the unit is expected to reduce oil product output by 3.49 million tons and increase chemical product output by 3.06 million tons annually, addressing the domestic supply gap for high-end materials such as membrane and pipe materials [4]. - This development aims to alleviate the structural contradiction in China's petrochemical industry characterized by an excess of oil products and a shortage of high-end chemical products [4].

Core Viewpoint - The successful commissioning of the 1.2 million tons/year ethylene unit by China Petroleum Guangxi Petrochemical Company marks a significant transition from a "fuel-type" refinery to a "chemical products and organic materials-type" integrated refining and chemical enterprise, accelerating the development of a new industrial ecosystem in the Southwest region [1][4]. Group 1: Project Overview - The ethylene unit, constructed by China National Petroleum Corporation, utilizes proprietary large-scale ethylene technology and is capable of producing 1.2 million tons of polymer-grade ethylene, 616,000 tons of polymer-grade propylene, 400,000 tons of hydrogenated gasoline, and 35,000 tons of styrene annually, along with over 20 types of chemical raw materials and products [3][4]. - The project, which began construction in July 2023, faced significant climatic challenges but achieved ground-breaking in 8 months and a "soil-less" construction goal in 3 months, setting a benchmark for engineering projects in China [3]. Group 2: Economic Impact - The commissioning of the unit is expected to reduce oil product output by 3.49 million tons annually while increasing chemical product output by 3.06 million tons, directly addressing domestic supply gaps in high-end membrane materials and pipe materials [3][4]. - The project aims to transform Guangxi's industrial landscape from basic chemicals to high-end chemical new materials, leveraging the Western Land-Sea New Corridor to serve the Southwest, South China, and ASEAN markets, ultimately contributing to the establishment of a trillion-level green chemical new materials industry cluster [4].

Core Viewpoint - Jilin Petrochemical's new 1.2 million tons/year ethylene plant has successfully produced qualified ethylene products, increasing its total ethylene capacity to 1.9 million tons/year [1] Investment and Capacity - The total investment for the new ethylene facility is 4.177 billion yuan (including tax), covering an area of 119,000 square meters [1] - The new plant is expected to produce 1.2 million tons of polymer-grade ethylene and 587,000 tons of polymer-grade propylene annually, along with over 20 types of chemical raw materials and products [1] Technology and Equipment - The plant utilizes domestic CBL cracking technology and LECT separation technology, achieving a domestic equipment localization rate of 96% [1] - Key core equipment has achieved 100% independent control, with comprehensive energy consumption and other technical indicators reaching advanced domestic levels [1] Project Timeline - The foundation work for the facility began on November 12, 2022, with civil construction starting on April 1, 2023 [1] - Mechanical completion is scheduled for November 30, 2024, with intermediate handover on April 30, 2025, and successful initial operation on August 31, 2025 [1]