business

Petroleum Engineering

Quality and efficiency improved steadily. We boosted quality upgrading, witnessed 11 enterprises including Sinopec Maoming, Beijing Yanshan, Beihai, Shanghai Gaoqiao and Wuhan Petrochemical had their newly established devices put into production smoothly and had our processing adaptability of oil refining part enhanced constantly and product quality improved continuously. We obtained staged progress in popularization and application of catalytical diesel conversion, LTAG and other technologies and intelligent pipeline construction. Our oil refining comprehensive competitiveness was enhanced constantly and earning capacity was improved continuously.

Production and operation kept steady. 2016 was a year when extreme weather occurred often. We prepared response plan in advance according to weather forecast, strengthened emergency response drill and coped with extreme weather calmly; thus we kept safe production steady and made output of finished product a 0.5% YOY increase.

Efficiency increase for product structure was obvious. Optimization and efficiency increase of product structure was obvious after our pressing close to market and benefit, optimizing and adjusting production scheme, advancing combination and sharing among enterprises, strengthening production and sales coordination actively, expanding market jointly, trying to increase gasoline and jet fuel production and sales and lower diesel gasoline ratio for production. Gasoline production increased by 4.4% in the whole year; of which, high-grade gasoline production increased by 6.2% and jet fuel production increased by 4.6%; diesel gasoline ratio for production is 1.19:1, lowering by 0.11 unit.

Export quantity of oil products increased greatly. We had year-around export quantity of oil products increasing by 24.5% after our improving storage and transportation facility, expanding export channel constantly and trying to increase export quantity of oil products, which played a vital role in supporting high processing load for oil refinery.

Quality upgrading was completed smoothly. We advanced quality upgrading, optimized production organization and product coordination, and strengthened production and sales cooperation. In October 2016, our exfactory vehicle gasoline and diesel started to reach National V standard totally, which indicated we completed quality upgrading in advance and ensured that our oil quality was always leading in China.