New Yulong refinery has been launched in Shandong Province

In the Chinese province of Shandong, a new refinery (NPP) of Yulong company with capacity of 400,000 barrels per day was started. This is the only major NHP to be commissioned in China this year.
The $20 billion project includes a complex for the production of ethylene and paraxylene, and has become an important step in the modernization of the region’s oil refining. The new refinery was launched against the background of falling oil refining margins in the country, but at the request of the provincial authorities to improve the efficiency of a sector dominated by small independent refineries, the so-called “samovars”.