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Crude Oil November 04, 2019 01:30:55 AM

China’s Hengyi Petrochemical Launches Brunei Refinery Plant

Anil
Mathews
OilMonster Author
The Brunei plant would enjoy some preferential tax policies for up to 24 years, while the refined oil products from the project will be sold in Brunei and to countries in Southeast Asia.
China’s Hengyi Petrochemical Launches Brunei Refinery Plant

SEATTLE (Oil Monster):  China’s Hengyi Petrochemical Co Ltd has launched an oil refinery and petrochemical facility in Brunei, the company said in a filling to the Shenzhen Stock Exchange on Sunday.

The Brunei project will enable the company to extend business to paraxylene (PX) and benzene production, as well as oil refining, from current Purified Terephthalic Acid (PTA) and polyester filaments production, it said.

The project, based in Pulau Muara Besar, consists an 8-million-tonnes-per-year (tpy) crude oil refinery (160,000 barrels per day), a 1 million-typ aromatics plant and a 500,000-tpy benzene facility.

The Brunei plant would enjoy some preferential tax policies for up to 24 years, while the refined oil products from the project will be sold in Brunei and to countries in Southeast Asia, according to the statement 

Courtesy: www.reuters.com

 

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