Shenhua Group recently stated that the coal liquefaction plant of Ordos Coal Oil Subsidiary successfully completed its 2011 oil production target and 780,000 tons of sprint targets, and the average load of the equipment reached 82.95%. The overall operating status of various equipments is still good.
Shenhua Group stated that as of 0:00 on January 17th, the coal liquefaction plant of Shenhua Ordos Coal Oil Subsidiary had been operating continuously for 3089 hours, surpassing the 3,000-hour mark for the first time.
According to the objectives set by the former Shenhua Group, the coal-to-oil project will produce 750,000 tons of oil in 2011. As of December 17, that target has been achieved, producing 459,000 tons of diesel and 205,000 tons of naphtha. Liquefied gas is 87,000 tons. However, the current production of coal-to-oil projects is a considerable distance from the designed annual production capacity of 1.08 million tons of Shenhua Group.
Shenhua Ordos Coal Oil Project officially started construction in May 2008. According to the plan, the total construction scale of the project is to produce 5 million tons of oil products each year, which will be constructed in two phases. In the first phase, the total investment was 24.5 billion yuan, and three production lines were constructed to produce 3.2 million tons of various oil products. The initial planned production capacity of the first production line was 1,080,000 tons/year, which was originally planned to be completed in 2007. However, it was not until December 30, 2008 that the first trial was conducted and the production was officially started in early 2010.
At present, it is unclear how the cost accounting and economic benefits of this project are. Before this, in 2009, Shenhua Group disclosed that the project achieved sales revenue of more than RMB 300 million. Galaxy Securities released a research report in December last year that the Shenhua Group million-ton direct-fired coal-to-oil project is expected to earn about 2 billion yuan in 2011.
Shenhua Coal Oil Production Project is the world's first demonstration project of coal direct liquefaction and is currently the largest coal-to-oil demonstration plant in the world. If this project can successfully achieve profitability, it may bring vitality to the coal-to-oil chemical project that has already stagnated in China.
As international crude oil prices rose to US$140 per barrel in 2008, an investment boom in coal-to-oil projects was triggered. In September 2008, the National Development and Reform Commission of China issued a special notice to stop the domestic coal-to-liquidity project. Only the Ordos project of the Shenhua Group and the indirect liquefaction project of the Ningxia Coal of Ningxia were retained as an exemplary development. In April 2011, the National Development and Reform Commission also issued the "Notice on Regulating the Orderly Development of the Coal Chemical Industry", prohibiting the construction of coal-to-oil projects with an annual output of 1 million tons or less.
However, although the indirect liquefaction project of the Ningxia Coal Co., Ltd. under the Shenhua Group has not progressed for two or three years and seems to have been shelved, there are currently two coal-to-liquid projects that have been put into operation in China, and the other is the 160,000 developed and constructed by Inner Mongolia Yitai Group. Indirect coal liquefaction project.
As of September 30, 2011, the Yitai project has been operating for a total of 660 days and has produced 204,423 tons of various types of oil products. The coal-to-oil product distribution is 64.5% for diesel, 30% for naphtha, and 5.5% for liquefied petroleum gas. In addition, it has been recently reported that the Yantai Mining Group's one million tons coal-to-oil demonstration project has been officially launched.
Shenhua Group stated that as of 0:00 on January 17th, the coal liquefaction plant of Shenhua Ordos Coal Oil Subsidiary had been operating continuously for 3089 hours, surpassing the 3,000-hour mark for the first time.
According to the objectives set by the former Shenhua Group, the coal-to-oil project will produce 750,000 tons of oil in 2011. As of December 17, that target has been achieved, producing 459,000 tons of diesel and 205,000 tons of naphtha. Liquefied gas is 87,000 tons. However, the current production of coal-to-oil projects is a considerable distance from the designed annual production capacity of 1.08 million tons of Shenhua Group.
Shenhua Ordos Coal Oil Project officially started construction in May 2008. According to the plan, the total construction scale of the project is to produce 5 million tons of oil products each year, which will be constructed in two phases. In the first phase, the total investment was 24.5 billion yuan, and three production lines were constructed to produce 3.2 million tons of various oil products. The initial planned production capacity of the first production line was 1,080,000 tons/year, which was originally planned to be completed in 2007. However, it was not until December 30, 2008 that the first trial was conducted and the production was officially started in early 2010.
At present, it is unclear how the cost accounting and economic benefits of this project are. Before this, in 2009, Shenhua Group disclosed that the project achieved sales revenue of more than RMB 300 million. Galaxy Securities released a research report in December last year that the Shenhua Group million-ton direct-fired coal-to-oil project is expected to earn about 2 billion yuan in 2011.
Shenhua Coal Oil Production Project is the world's first demonstration project of coal direct liquefaction and is currently the largest coal-to-oil demonstration plant in the world. If this project can successfully achieve profitability, it may bring vitality to the coal-to-oil chemical project that has already stagnated in China.
As international crude oil prices rose to US$140 per barrel in 2008, an investment boom in coal-to-oil projects was triggered. In September 2008, the National Development and Reform Commission of China issued a special notice to stop the domestic coal-to-liquidity project. Only the Ordos project of the Shenhua Group and the indirect liquefaction project of the Ningxia Coal of Ningxia were retained as an exemplary development. In April 2011, the National Development and Reform Commission also issued the "Notice on Regulating the Orderly Development of the Coal Chemical Industry", prohibiting the construction of coal-to-oil projects with an annual output of 1 million tons or less.
However, although the indirect liquefaction project of the Ningxia Coal Co., Ltd. under the Shenhua Group has not progressed for two or three years and seems to have been shelved, there are currently two coal-to-liquid projects that have been put into operation in China, and the other is the 160,000 developed and constructed by Inner Mongolia Yitai Group. Indirect coal liquefaction project.
As of September 30, 2011, the Yitai project has been operating for a total of 660 days and has produced 204,423 tons of various types of oil products. The coal-to-oil product distribution is 64.5% for diesel, 30% for naphtha, and 5.5% for liquefied petroleum gas. In addition, it has been recently reported that the Yantai Mining Group's one million tons coal-to-oil demonstration project has been officially launched.
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