Chinese petrochemical company buys Brazilian oil for new refinery in Harbin

14 June 2018

Chinese petrochemical company Hengli Group has just bought an oil shipment from Brazil before it starts operating its new refinery located in Harbin port in northeastern China, according to a report from Reuters.

Hengli purchased 1 million barrels of oil from Brazil’s Petrobras that arrived in China at the end of May.

The refinery, which will be one of China’s five largest, will have capacity to refine 400,000 barrels per day and should start operating in October, albeit in a testing phase.

Reuters also reported that in May the Chinese petrochemical company received a shipment from Saudi Arabia of 2 million barrels of oil.

According to the same source, China’s Ministry of Commerce has authorised Hengli to import 5 million tons of oil (36.5 million barrels) this year.

In partnership with China’s state-owned oil company Sinochem, Hengli has just opened an office in Singapore.

The Hengli Oilchem ​​joint venture is owned 80% by Hengli and 20% by Sinochem. (macauhub)