China Petrochemical Research Articles

Research on clean energy utilization and company’s green development strategy under the “dual carbon” goal – Take Sinopec as an example

At present, China predominantly relies on a traditional energy consumption structure for meeting its energy demands. However, in response to the increasing global awareness of environmental protection, the nation has significantly accelerated its efforts to develop clean energy sources as well as promote green development in various industries. In addition, numerous traditional energy enterprises have gradually initiated efforts to transition towards clean energy solutions. This transition to clean energy is not only pivotal in curbing pollution caused by energy usage but also instrumental in achieving China’s dual carbon targets. To gain insights into the adoption of clean energy and green development by domestic enterprises, this paper takes China Petrochemical Corporation as a case study. With comprehensive research focusing on policy, market, natural resources, and social responsibility, we will not only investigate China’s homegrown policies but also juxtapose them with international counterparts. This comparative analysis aims to offer an in-depth understanding concerning the environmental challenges and potential bottlenecks faced by Chinese enterprises as they embrace clean energy and green development approaches. Furthermore, based on thorough exploration, the paper will deliver practical suggestions and recommendations for their sustainable growth and development.

China’s national oil companies going global and coming home: State–firm nexus, global financial networks, and geopolitical risks

Both the “going global” strategy and the Belt and Road Initiative have prompted Chinese companies to carry out overseas investment and global financing. China’s three major national oil companies (NOCs), China National Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec), and China National Offshore Oil Corporation (CNOOC) have pursued “modernization through globalization” while balancing profitability and national energy security. This paper attempts to shed some light on NOCs’ going global process by integrating global production networks’ (GPNs) extra-firm (state–firm) relations and global financial networks’ (GFNs) emphasis on world cities and financial and advanced business services providers. Going global, however, has also increased NOCs’ geopolitical risks, resulting in a retreat from the financial centers of world cities and a return home. This paper contributes to the GPN/GFN literature by examining the interactions between lead firms from developing economies and extra-firm actors while also emphasizing the increasing significance of geopolitical risks.

Analysis of the Current Situation, Problems and Countermeasures of China's Petrochemical Industry

The petrochemical industry is a pillar industry of China's national economy, which is related to people's food, clothing, housing and transportation. At present, China's petrochemical industry is large in scale and developing at a fast pace. However, influenced by epidemics and geopolitics, the petrochemical industry is operating under increased pressure. This paper starts from the current situation of China's petrochemical industry, analyses a series of problems that exist in the development process of China's petrochemical industry, and proposes corresponding solutions. The current industrial structural contradictions in China's petrochemical industry are so prominent that it is difficult to meet the needs of key national construction projects. At the same time, the long-standing problem of industry monopoly is not conducive to fair competition in China's petrochemical market. In addition, the petrochemical industry needs to reverse the inherent prejudice of serious environmental pollution and frequent safety accidents in the minds of the people. Therefore, accelerating the upgrading and optimisation of traditional industries, appropriately deregulating the market, adhering to green and low-carbon development and establishing a sound safety management system can effectively solve the current difficulties faced by China's petrochemical industry.

A Study on the Low-Carbon Transformation Path of Sinopec Group Based on ESG Principles

This study examines the low-carbon transformation path of the petrochemical industry based on Environmental, Social, and Governance (ESG) principles, taking China Petrochemical Corporation (Sinopec Group) as a case study. The research first analyzes the year-on-year carbon emissions of the petrochemical industry. Subsequently, addressing the deficiencies in Sinopec Group’s low-carbon transformation path, a series of recommendations are proposed: in terms of information disclosure, the study advocates for improvements in ESG reporting and transparency to enhance corporate governance and social impact. In the strategic aspect, the research suggests that Sinopec Group actively promotes sustainable procurement and green supply chain development, collaborating with partners to drive low-carbon transformation. This study aims to identify shortcomings and provide recommendations for the current low-carbon transformation path of China Petrochemical Corporation, serving as a reference for Sinopec Group and other enterprises within the industry.

Green financial regulation and shale gas resources management

Managing shale gas resources can cause environmental, safety, and other sustainability issues. The Environment, Society, and Governance (ESG) report is seen as an important way to promote responsible natural resources management through green finance regulation. The China Petrochemical Corporation (Sinopec Group) published the first ESG report of the Chinese mainland in 2014 to highlight sustainable issues. Assessing the financial impact of this significant ESG report on shale gas companies is of interest to researchers and practitioners. This study used both the event study and bootstrap regression to analyze the impact of the ESG report on the market performance of shale-gas-related companies. The results demonstrate the heterogeneity of the impact of the ESG report on the management of shale gas resources by relevant listed companies. The report provided short-term positive returns to its issuer and potential associates. The stock returns of private companies and smaller companies are significantly negatively affected by the ESG announcement. Companies listed in Shenzhen suffer greater losses in shares after the ESG announcement than those listed in Shanghai. The ESG announcement heterogeneously affects the stock return of companies engaged in shale gas exploration, production, sale, transmission, and integrated business. The results of this paper are informative for regulating shale gas resources management through financial measures.

Emission Characteristics, OFPs, and Mitigation Perspectives of VOCs from Refining Industry in China's Petrochemical Bases

China's petroleum refining industry has set off another climax and has entered a new rapid development by building seven petrochemical bases. Sector-based volatile organic compound (VOC) emissions from the refining industry in seven petrochemical-developed provinces in China were estimated for 1990–2019 and projected for 2020–2030 under the business-as-usual (BAU), new policy control (NPC), and the highest control (HC) scenarios. Furthermore, speciated VOCs and their ozone formation potentials (OFP) were estimated in 2019. Total VOC emissions from existing refineries were 541.14 Gg in 2019, of which 43.9%, 31.3%, 18.3%, and 6.6% were from fugitive, end-of-pipe, tank storage, and wastewater treatment sources, respectively. Alkanes were the most dominant compound in refineries, accounting for 55.2% of total emissions, followed by alkenes (18.9%) and aromatics (12.5%). Alkenes were the highest contributor to OFP, accounting for 59.5% of total OFP, followed by alkanes (22.3%) and aromatics (13.7%). n-Butane, ethylene, cis-2-Butene, n-Decane, and n-Pentane were the top five species with the highest emissions, accounting for approximately 50% of total emissions. Whilst, ethylene, cis-2-Butene, n-Pentane, n-Butane, and m/p-Xylene were the top five species with the highest contribution to OFPs, accounting for approximately 78% of total OFPs. In 2030, 741.03 and 165.28 Gg more VOC will be released than in 2019 under a non-control condition and the BAU scenario. It is estimated that 75.05 and 228.67 Gg of VOC from all refineries can be reduced under the NPC 2030 and the HC 2030 scenarios. To effectively reduce VOC emissions from refining industries, priority should be given to fugitive emissions by improving and upgrading the production processes and implementing enhanced leak detection and Repair system. More efficient control technologies should be invented for end-of-pipe sources. Vapor recovery systems and secondary seals have great potential for VOC emission reduction from storage tanks.

Antecedents and Consequence of the Use of Channel Power: Evidence From China Petrochemical Industry.

Inconsistency exists in extant research on the relation of channel dependence, the relation of channel power, and channel satisfaction. This study, taking Sinopec as the research object, explores the relation between channel dependence, the use of channel power, and channel satisfaction. The results reveal that dependence symmetry plays a moderating role in the relation between channel dependence and the use of coercive power. Specifically, with the increase of dependence symmetry, the influence of channel dependence on the use of coercive power becomes weaker. The authors also find that the use of coercive power is negatively related with the dealer’s channel satisfaction. However, the relation strength is weaker than related studies in Western cultural context.

Стратегии интернационализации бизнеса китайских государственных нефтегазовых компаний

The article is devoted to the analysis of the specifics of the business international expansion of large Chinese state-owned companies in the oil and gas sector: China National Oil and Gas Corporation (CNPC), China Petrochemical Corporation (SINOPEC), China National Offshore Oil Corporation (CNOOC). The article examines the strategic guidelines of the companies, the factors influencing the strategies, formats and forms of expansion, regional specifics of business internationalization, trends in the development of activities in foreign markets. The problems of specialization and business diversification of the studied companies are considered. Special attention is paid to the role of the state in the processes of international expansion of Chinese oil and gas companies.

Relevance of Marketing Strategies for Gas Stations in China – An Analysis Using SPSS

This study aims to find out the relevance of marketing strategies for gas stations in China. According to IBISWorld, the companies holding the largest market shares in China’s gas station industry include China Petrochemical Corporation, China National Petroleum Corporation, Sinochem Corporation, China National Offshore Oil Corporation, and BP (China) Holdings Limited. Marketing has changed over the past several years. Similarly, gas station marketing is all about more customers, greater sales, and higher profits. Technology provides many different marketing tools to see more fresh faces at the door, increase repeat sales, and improve profits. Word-of-mouth advertising should be encouraged, especially when contests are being held. The prizes from these contests may include car essentials, free coffee, free car wash, or coupons to be used at convenience stores. Customers who have won these contests would surely go around advertising the particular gas station, ultimately bringing in more customers. Other than that, managers can boost the sales volume through radio promotions as well. This study also aims to give future businessmen and women some ideas on how to deal with different kinds of strategies when it comes to marketing, especially in China in hope to cater and prove to the people of China the possibility of promoting businesses, such as the oil industry.

Urban residential energy switching in China between 1980 and 2014 prevents 2.2 million premature deaths

Urban residential energy switching in China between 1980 and 2014 prevents 2.2 million premature deaths

Modeling contamination conditions in small-scale industrial areas to estimate health savings benefits associated with remediation

Mercury and dioxin pollution associated with the China Petrochemical Development Corporation's An-shun plant is one of the most severe soil contamination incidents in Taiwan's history. Residents living nearby were exposed to heavy metals and dioxins that led to significant impacts on human health and safety. While many studies related to contamination in large-scale industrial areas have been conducted to evaluate the effects of occupational contaminant exposure, studies related to people who live near small-scale industry areas are less common. In this study, we use the system dynamics modeling to build a media flow pattern for mercury and dioxin in the vicinity of the An-shun plant, simulate the concentrations of the pollutants before and after remediation, and compare the simulated values with the measurements of actual conditions after remediation to evaluate the feasibility and accuracy of the model. This study also estimated the concentration of mercury and dioxin in each food medium to simulate the daily exposure of the human body to these contaminants. Finally, the reduction in mercury and dioxin levels in the study area was used to estimate the total health benefits to the local population. The objective of this study was to evaluate the application of this methodology to small-scale industrial areas as well as improve the decision-making process before, during, and after remediation of contaminated sites. The results of this study revealed the health benefits to residents living in the Annan District after remediation was completed at the An-shun plant were significant.

Development Strategy for China's Petrochemical Engineering Science and Technology to 2035

Development Strategy for China's Petrochemical Engineering Science and Technology to 2035

Technology Innovation and Practice of Green Exploitation Projects of Oil and Gas in the Western Sichuan Gas Field

The green (environmentally friendly) project of mining oil and gas in the Western Sichuan area is based on the green low-carbon development strategy of the China Petrochemical Corporation, and it commits to form a complete set of technological developments in oil and gas extraction processes. The project focuses on technology innovation in three aspects: reuse of fracturing flow back fluid, reuse of drilling fluid, and configuration of fracturing fluid and drilling fluid by formation water. A series of technology innovations not only realize the green low- carbon strategy of the enterprise, but also play an important role in lowering cost and improving efficiency. In addition, the technology achieves remarkable social and economic benefits and inspires the ideas for industry technology innovation.

A New Type Auto-Reclaim Facility of Boiler Exhaust Steam Heat Energy

There is so much exhaust steam in a boiler system that it causes great heat energy waste. A new type auto-reclaim facility of boiler exhaust steam heat energy is designed based on hydrokinetics, pyrology and automation. The new type facility is made up of water-gas injection pump, liquid relay deoxidization tank, field electrical control cabinet, instrument cabinet, loop booster pump and remote consoler. When the facility is used in the boiler system, not only can it reclaim the exhaust steam heat energy but also the whole steam and working medium. The facility is of high reliability under intelligent control and mechanism architecture. The facility has been applied in more than thirty China Petrochemical manufactories. This patent facility receives the high praise in the field of boiler steam heat energy reclaim.

Comments: Unconventional Access

Editor's column PTT Exploration and Production’s (PTTEP) agreement with Statoil to take a share of a Canadian oil sands development is just the latest in a string of deals by Asian oil companies made to gain access to unconventional resources in North America. Firms from China and India bought into projects throughout 2010 looking to gain access to new reserves as well as to gain technical knowhow. Thailand’s PTTEP acquired a 40% interest from Statoil Canada in the Kai Kos Dehseh Oil Sands Project in western Canada in late November for USD 2.3 billion for its debut in the oil sands market. Statoil will keep the remaining 60% of the project. Kai Kos Dehseh has estimated reserves of 4.3 billion bbl and, using steam-assisted gravity drainage (SAGD), is on target to reach early production of 10,000 b/d in the first quarter of this year. Peak output is projected to be 300,000 b/d, which would help PTTEP move toward its goal of more than tripling current production to reach 900,000 BOEPD by 2020. “This acquisition provides the company access to a highly attractive oil sands deposit in Canada and a strong platform for future growth into unconventional resources,” the company said in a statement. This follows deals by China firm Sinopec to buy ConocoPhillips’ stake in oil sands producer Syncrude Canada, China Petrochemical Corp.’s purchase of Calgary-based Addax Petroleum, and PetroChina’s buy-in of a stake in Athabasca Oil Sands’ MacKay and Dover oil sands projects. China first began buying small stakes in oil sands projects in 2005. Asian state oil companies are investing billions of dollars in oil sands projects in Canada and shale plays in the US. The goal is to secure new resources to fuel their booming economies and to learn the techniques and technologies that will help them develop unconventional resources in their own backyards. With oil prices steady above USD 70/bbl, SAGD oil sands projects remain economic and, with gas prices still depressed, independent producers are welcoming the infusion of Asian cash. Shale developments in North America have attracted a string of deals over the past 2 years, the latest being Chinese National Offshore Oil Corp.’s purchase of a one-third stake in Chesapeake Energy’s Eagle Ford shale acreage in south Texas in November. Although reserves estimates for Asia’s unconventionals potential are sketchy, the International Energy Agency puts China’s unconventional gas reserves at 144 trillion cm. Some analysts believe that figure is much higher. Last August, China inaugurated a shale gas research center and set goals of locating 1 trillion cm of recoverable shale gas reserves, building 15 billion cm to 30 billion cm of production capacity, and producing 8% to 12% of China’s natural gas needs from shale by 2020. The US government is also encouraging China’s development of shale in hopes that it will help the country cut carbon emissions.

FROM RAGS TO RICHES IN CHINA

ALONG WITH THE MIDDLE EAST, China is where the action is in the petrochemical industry these days. Conglomerates, like China Petroleum & Chemical Corp. (Sinopec) and PetroChina, will spend billions of dollars in coming years to build large new plants that will pump products into the fast-growing Chinese market. Unfortunately for international bankers, Chinese companies will look no further than their own bank accounts to find the money they need for these large projects. Not long ago, prospects for the Chinese petrochemical industry's ability to raise cash were bleak. In 1998, China Petrochemical Corp.—the parent company of Sinopec—declared a major loss on its operations. The same year—as a financial crisis hit Asia, Russia, and South America— Sinopec and other Chinese oil and petrochemical companies were forced to postpone plans to list themselves on international markets to raise funds. What a difference a fewyears make. These days, Sinopec is not only profitable, it generates more cash ...

Effect of the vibration shear flow field in capillary dynamic rheometer on the crystallization behavior of polypropylene

The self-made capillary dynamic rheometer was adopted to study the relationship between the crystallization behavior of isotactic polypropylene (iPP) and the vibration shear conditions, namely, vibration amplitude and vibration frequency. The crystalline structure of iPP under different vibration conditions was characterized by using differential scanning calorimeter (DSC) and wide-angle X-ray diffractometer (WAXD) techniques. The samples extruded under vibration shear conditions had a higher melting temperature (from DSC). A new shoulder-shape peak appeared at ca. 162 °C under low frequency or low amplitude conditions, which was engulfed by the main melting peak with the increase of the vibration amplitude or frequency. This was probably an indication that more perfect crystals had formed [Polym Eng Sci 38 (1998) 1–20]. The WAXD demonstrated that crystalline form of iPP extruded was not changed but the average crystalline size decreased, according to the Scherrer formula [Analytical methods of polymer materials, China Petrochemical Press, Beijing, 1997]. This proved a large increase in the number of small crystals.

CREATING A WHOLE GREATER THAN THE SUM

IT LOOKS LIKE A CASE OF THROWING out the baby with the bathwater. As it let market forces play an increasingly important role in its management decisions, China Petroleum & Chemical Corp. unintentionally created a second problem. Not only do the companies that it owns across China not cooperate with each other, but they also are rivals. Now, though, the company is rediscovering the merits of central planning. We sense that competition really exists between our subsidiaries. This is a problem that must be solved, says Chen Ge, secretary of China Petroleum & Chemical Corp., more commonly known as Sinopec. The company is looking at a number of solutions, including the outright purchase of its separately listed subsidiaries. Headquartered in Beijing, Sinopec was listed on stock exchanges in London, New York City, and Hong Kong in October 2000. It is 55% owned by China Petrochemical Corp., which in turn is owned by the Chinese government. ...

From State-Owned Enterprise to Joint Venture: A Case Study of the Crisis in Urban Social Services

Previous articleNext article No AccessReports from the FieldFrom State-Owned Enterprise to Joint Venture: A Case Study of the Crisis in Urban Social ServicesRobert P. Weller and Jiansheng LiRobert P. Weller Search for more articles by this author and Jiansheng Li Search for more articles by this author PDFPDF PLUS Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by The China Journal Volume 43Jan., 2000 Published on behalf of the Australian Centre on China in the World at the Australian National University Article DOIhttps://doi.org/10.2307/2667533 Views: 25Total views on this site Citations: 12Citations are reported from Crossref Copyright The China JournalPDF download Crossref reports the following articles citing this article:Scarlett Ting Jin, Daniel Zhi Sui Do central state interventions cause urban shrinkage in China?, Journal of Urban Affairs 43, no.99 (Mar 2020): 1310–1329.https://doi.org/10.1080/07352166.2020.1730696Christopher J. Rees, John Hassard, Jonathan Morris, Jackie Sheehan, Xiao Yuxin China's state‐owned enterprises: economic reform and organizational restructuring, Journal of Organizational Change Management 23, no.55 (Aug 2010): 500–516.https://doi.org/10.1108/09534811011071252Jonathan Morris, Barry Wilkinson, Jos Gamble Strategic international human resource management or the ‘bottom line’? The cases of electronics and garments commodity chains in China, The International Journal of Human Resource Management 20, no.22 (Feb 2009): 348–371.https://doi.org/10.1080/09585190802670722 References, (Jan 2007): 147–157.https://doi.org/10.1016/B978-1-84334-180-2.50019-0Mark W. Frazier State-sector shrinkage and workforce reduction in China, European Journal of Political Economy 22, no.22 (Jun 2006): 435–451.https://doi.org/10.1016/j.ejpoleco.2005.09.012Jieming Zhu A Transitional Institution for the Emerging Land Market in Urban China, Urban Studies 42, no.88 (Jul 2005): 1369–1390.https://doi.org/10.1080/00420980500150714Mary E. Gallagher “Time is money, efficiency is life”: The transformation of labor relations in China, Studies in Comparative International Development 39, no.22 (Jun 2004): 11–44.https://doi.org/10.1007/BF02686276John Hassard, Jonathan Morris, Jackie Sheehan The ‘third way’: the future of work and organization in a ‘corporatized’ Chinese economy, The International Journal of Human Resource Management 15, no.22 (Mar 2004): 314–330.https://doi.org/10.1080/0958519032000158536Russell Smyth, Zhai Qingguo Economic Restructuring in China's Large and Medium-sized State-owned Enterprises: Evidence from Liaoning, Journal of Contemporary China 12, no.3434 (Feb 2003): 173–205.https://doi.org/10.1080/10670560305461 Dorothy J. Solinger Chinese Urban Jobs and the WTO, The China Journal 49 (Oct 2015): 61–87.https://doi.org/10.2307/3182195Russell Smyth, Zhai Qingguo, Hu Wenguo Restructuring China's Petrochemical Enterprises: A Case Study of the Fushun Petrochemical Company, Post-Communist Economies 13, no.22 (Aug 2010): 243–261.https://doi.org/10.1080/14631370124898 Literatur, (): 197–219.https://doi.org/10.1007/978-3-531-90477-1_10

Sinopec gears up for public offering

China Petrochemical Corp. (Sinopec) has hired investment bank Morgan Stanley and China International Capital Corp.—a joint venture between Morgan Stanley and China Construction Bank—as global coordinators of its first foreign public offering, worth as much as $5 billion. Sinopec is striving to list itself on stock markets in the U.S. and in Hong Kong within the coming year. To stoke the interest of foreign investors in Sinopec, much of the group's existing operations will have to be excluded from the listing. Sinopec provides food, lodging, schooling, and other social services to its employees. Reporting sales of $33 billion for the year ended Dec. 31, 1998, Sinopec's net profit after tax was a mere $193 million. The group is seriously overstaffed, employing 1.19 million people. Sources say that Morgan Stanley hopes to lead a Sinopec restructuring effort. Morgan Stanley says that it is not permitted to comment on its work. One observer familiar with China's ...