CNOOC Refining & Chemical Co., Ltd.

Company Profile

CNOOC Refining & Chemical Co., Ltd. (hereinafter referred to as CNOOC Refining & Chemical) is a wholly-owned subsidiary of China National Offshore Oil Corporation (hereinafter referred to as CNOOC), established in Beijing in November 2005. In October 2015, in line with the strategic goal of building a world-class energy company with Chinese characteristics, CNOOC initiated the reform and restructuring of its refining and chemical industry, forming a market-oriented, professionally managed, and group-operated CNOOC Refining & Chemical with integrated production and sales. The restructured CNOOC Refining & Chemical officially commenced operations in 2016, with main businesses including petroleum refining, production, sales, storage and transportation of petrochemical and salt chemical products, R&D in refining and chemical technology, and engineering design for refining and chemical projects. By the end of 2016, total assets reached 113 billion yuan, with a workforce of 24,000 employees.
CNOOC Refining & Chemical adheres to the development path of "low cost, differentiation, and technology leadership," committed to building a CNOOC refining and chemical industry of advanced level. After more than ten years of development, the CNOOC refining and chemical industry, strategically concentrated along the "two coasts and one bay" region, has begun to take shape. Currently, it has established two integrated refining and chemical bases in Huizhou and Ningbo Daxie, and formed a special oil product processing base in the Bohai Rim region, characterized by asphalt and lubricating oils.
At present, CNOOC Refining & Chemical's primary crude oil processing capacity exceeds 41 million tons per year, ranking third domestically in refining and ethylene production capacity, and leading domestically in the production capacity of asphalt and salt chemicals. Refining and chemical products such as "CNOOC 36-1" heavy-duty road asphalt are highly recognized by the industry and market. The marketing network, represented by refined oil sales, is rapidly expanding, and the brand value of CNOOC is continuously improving.