Crude Oil Processing Capacity News

Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.543 billion yuan, an increase of 7.5%. Semi-annual report and display, from January to June the company achieved operating income of 52.268 billion yuan, an increase of 11.8%; basic earnings per share of 0.279 yuan, up by 6.5%, mainly due to the refining and marketing segment operating income grew. The same period, Sinopec achieved 237.01 million barrels of oil equivalent production, an increase of 8%, of which crude oil production was 177.88 million barrels, an increase of 7.52%, the production of 3,548 one hundred million cubic feet of natural gas, an increase of 9.46%.

Ken Applegate, VP, Transportation Services, Valero shares with readers of MarineLink.com his insights on key market drivers for the coming year. What do you count as the biggest Technical challenge to your company/organization in the coming years? KA:      Valero is very concerned about the deteriorating infrastructure for both waterway and surface transportation in the and we do not see the necessary legislative focus today to address this issue. It will be a tremendous challenge…