MOSCOW (MRC) -- China’s top state oil and gas producers - PetroChina, Sinopec Corp and CNOOC Ltd - are working on the following green initiatives, reported Reuters with reference to company executives' statements at earnings briefings and email replies.
Asia’s largest oil and gas producer, Petrochina said in late August it aims for near-zero greenhouse gas emissions by 2050, the first Asian national oil company to set that target.
It plans to spend up to USD1.5 billion annually by 2025 - a more than five-fold increase from current levels, and roughly 4% of its 2020 total spend - on a mix of gas power generation, geothermal, wind, solar and hydrogen projects. It did not provide a breakdown.
The company carried out pilot projects on geothermal and biofuels in northern China, and aims to continue investing in those sectors.
In July, PetroChina’s parent group CNPC revealed its target to slash methane emission intensity by 50% by 2025.
Last month, PetroChina set up a hydrogen joint venture with Shanghai’s Shenergy Group in which it holds a 40% stake.
The world’s largest oil refiner is the most ambitious on hydrogen among domestic rivals, owning annual output capacity of 3 million tonnes, or 14% of the national total, at its refineries. It wants to become the industry leader.
Sinopec plans to build several “hydrogen highway corridors” along China’s east coast by adding hydrogen refueling stations alongside its 30,000-strong petrol stations.
It has created a 6-person new energy office under the group’s planning department and established a R&D center of 48 staff.
Last month, Sinopec announced its first capital investment in solar, by investing in photovoltaic glass maker Fengyang Sillicon Valley Intelligence Co.
China’s leading shale gas developer, Sinopec also aims to nearly double its output of the unconventional fuel to 13 billion cubic metres by 2025.
The offshore oil and gas specialist CNOOC revived activities in offshore wind power in 2019 after closing its renewable unit in 2014, planning to spend 3% to 5% of its annual budget on the sector.
Its first 300-megawatt wind power plant off Jiangsu province is due online at the end of 2020 and it has planned other projects off Guangdong and Shandong provinces.
The company also plans to more than double its natural gas production by 2025 to make up 30% of its total oil and gas output from the current 19%.
As MRC informed earlier, Sinopec Shanghai Petrochemical, a refining subsidiary of Asia's top refiner Sinopec, plans to raise daily crude oil throughput by 7.8% in the second half of 2020. The Chinese company aims to process 7.68 million tonnes of crude oil in July-December, equivalent to 304,700 barrels per day.
We remind that Sinopec Zhongyuan Petrochemical, also part of Sinopec Group, is in plans to bring on-stream its cracker following a maintenance turnaround. The company is likely to resume operations at the cracker by mid-September, 2020. The cracker was shut for maintenance on August 1, 2020. Located at Henan in China, the cracker has a ethylene capacity of 220,000 mt/year and propylene capacity of 95,000 mt/year.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's overall PE production totalled 1,712,400 tonnes in the first seven months of 2020, up by 58% year on year. Linear low density polyethylene (LLDPE) accounted for the greatest increase in the output. At the same time, overall PP production in Russia increased in January-July 2020 by 24% year on year to 1,063,700 tonne. ZapSibNeftekhim accounted for the main increase in the output.