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Refining & Marketing

The refining and marketing segment plays an important role in the industrial value chain and helps CNOOC stick to the market-oriented reform direction, realize the scale economy effect, optimize the structure of energy products, and develop into a world class energy company. In 2016, the company basically completed the reform and restructure of refining industry and formed the refining industry segment integrated with production, sales and scientific research, market operation, professional management and group operation.

Refining and Petrochemistry

In 2016, focusing on the theme of “reform and innovation, mechanism transformation, structure optimization, quality and benefit increasing”, CNOOC Oil & Petrochemicals Company comprehensively completed various production and operation tasks and the overall level of safety production maintained steady. CNOOC Oil & Petrochemicals Company insisted on the maximization of overall value in refining chemical industry, fully played the advantage of production and sales integration, carefully organized production and operation, practically improved sales ability and drove the industry to a connotative development road. Annually, 32.31million tons of crude oil was processed, 7.38 million tons of refined oil products, 1.07 million tons of ethylene, 2.25 million tons of sodium carbonate, 8.47 million tons of asphalt and 750,000 tons of lubricating oil were produced.

CNOOC Oil & Petrochemicals Company strengthened production plan management, made crude oil resource jointing balance, production plan, sales arrangement and construction commencement and shut-down management and confirmed the high-efficiency operation of the equipment. The product structure was adjusted by market. 540,000 tons of high value-added naphtha, 150,000 tons of jet fuel and 1.02 million tons of white oil was increasingly produced. Re-exportation business of refined oil product processed with giving materials was actively developed; the annual refined oil product export reached 2.25 million tons. Huizhou Refinery expanded 8 kinds of crude oil suitable for refining, which greatly reduced the crude oil processing cost, Daxie Petrochemical and Orient Petrochemical increased production load through foreign purchasing of ethylbenzene, which effectively utilized the spare capacity of styrene device. China Offshore Bitumen Co., Ltd. increased production in high-grade, high value-added rubber oil, transformer oil and special asphalt product in asphalt lubricating oil business, ascending one of the first class domestic transformer oil manufacturer so as to increase product value.

CNOOC Oil & Petrochemicals Company completed the refined oil quality upgrading task in advance under great pressure. The quality upgrading plan of 7 oil products was running smooth, whose quality and progress achieved full appreciation from the National Energy Administration. Among which, the acid-containing heavy oil integrated utilization and product upgrading project of China Offshore Bitumen Co., Ltd., safety environmental protection and clean fuel upgrading project of Zhongjie Petrochemical, distillation integrated utilization project of Daxie Petrochemical and integration project of Taizhou Petrochemical were all put into operation. And the Huizhou crude oil reserve project reached 97% of completion exceeding the plan.

The Phase II Project of Huizhou Refinery was completed and rich international cooperation results were achieved. Based on the successful cooperation with the Shell in the first phase of the project, the company further expanded the cooperation with Shell to jointly construct the biggest ethylene production base. This project innovated the international cooperation management model, introduced advanced foreign technologies, upgraded integration value and formed “Banyan Effect” for the industrial park, which was listed into the “Demonstrations for Introduction of Social Capital of Central Enterprises in Major Projects”. On November 1, 2016, the project was delivered and the related industrial and commercial registration changes and staff transfer were all completed. Meanwhile, the new management structure and mechanism from CSPC after cooperation expansion was implemented.

With an emphasis on the safety and environmental protection ideas of “safety first, people-oriented, facility well-equipped, environmental protection upmost”, CNOOC Oil & Petrochemicals Company strictly implemented the responsible subjects, strengthened safety risk control and management, conducted hazards investigation, carried out special rectification, strengthened emergency disposal, and therefore, it realized the overall stable safety production.

Marketing

In 2016, CNOOC Oil & Petrochemicals Company reorganized refining and chemical sales system. With production enterprises being the resources radius, it founded three region sales companies including South China, East China and North China and practiced the optimized overall planning of “resources, market and benefit” in regional market, as a result, it realized the operation system of “close to market, close to refining plant, close to government”, improved the management and operation efficiency of production and sales integration and finally formed the refined oil product sales and marketing network covering “two deltas and one bay” (Yangtze River Delta, Pearl River Delta and Bohai Bay) and expanding along “one river and two railways” (the Yangtze River, Beijing-Guangzhou and Beijing-Kowloon Railway) to central China. In addition, CNOOC Oil & Petrochemicals Company realized the sales of oil product and chemical product up to 40.17 million tons, among which the sales of oil product was up to 14.65 million tons.

With the digging into market potential and improvement in its direct selling capacity, the Company increased sales volume per station and total retail volume of the service station. And it also won favor from more customers with high-quality oil, upgraded visual image of service station and considerate services. The company accelerated the construction of the service stations, making the total quantity of service stations under control reached 828. Meanwhile, it kept enriching the product categories and gradually expanded the service network of terminal products including asphalt, lubricating oil, fuel oil and others.



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