Recently, PetroChina held a press conference to announce the successful full commercial operation of the Guangdong Petrochemical Refining and Chemical Integration Project in China. This project is the largest of its kind ever undertaken by the company and has been designated as Jieyang City's "No. 1 Project."

The project involved a total investment of 65.43 billion yuan and has the capability to process 20 million tons of crude oil, producing 1.2 million tons of ethylene products and 2.6 million tons of aromatic products annually.

The Guangdong Petrochemical Refining and Chemical Integration Project has been operating since February 27th of this year and has now fully entered the stage of production.

Currently, 40 units are operating smoothly, meeting the designated values for their technical and economic indicators. These units have already processed a total of 5.35 million tons of crude oil, producing 276,000 tons of ethylene and generating an operating income of 25.4 billion yuan and a profit of 200 million yuan.

The commercial operation of Guangdong Petrochemical will not only facilitate the expansion and diversification of crude oil import channels but also create new opportunities for links between domestic and foreign petrochemical products and oil and gas resources. The project's equipment is mostly domestically sourced, with a fully localized core control system, promoting the diversification of resource structures.

Guangdong Petrochemical aims to process 15 million tons of crude oil and produce a total of 12.54 million tons of products by 2023. Almost 65% of these products will be synthetic resin, including ABS, supplied to the Pearl River Delta region. This will replace imported products and enable resin production in the Chaoshan region. PetroChina is focused on low-cost development and expanding its scale.