Yesterday, the 2 million-ton hydrocracking project of Sinopec Qingdao Refinery & Chemical Co., Ltd. (Qingdao Refining & Chemicals) held a groundbreaking ceremony in the development zone. The total investment of the project is 1.16 billion yuan, which will be put into production in September 2012. It is reported that this project is a set of equipment that Qingdao Refinery and Chemical Co., Ltd. has unified and deployed in accordance with Sinopec's diesel quality upgrade. After the project is put into production, all refined oil reaches the Euro III and Euro IV standards, and some diesel products meet the Euro V standard. Qingdao Refining & Chemical Co., Ltd. is a large-scale petrochemical company jointly invested and established by Sinopec, Shandong Province and Qingdao City. It can annually produce 7.08 million tons of gasoline, coal, diesel, benzene, benzene and other chemical products. Ton. Its major oil refining project is the first single-series 10 million-ton oil-refining project approved by the state. In 2010, the company processed 10.1 million tons of imported crude oil, achieved sales revenue of over 50 billion yuan, and realized profits of 10.3 billion yuan for the country and The local tax revenue is 8.6 billion yuan, ranking first in Qingdao and fourth in the province.
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