振华石油化工有限公司于2019年3月成立，注册资本4.76亿元。公司总投资123.596亿元于东营港经济开发区建设丙烷脱氢及环氧丙烷项目。该项目属石化产业链延伸项目，采用*的工艺技术，利用丙烷、液化气等低附加值轻烃原料，生产聚合级丙烯、环氧丙烷、苯乙烯和顺酐等高附加值产品。项目占地1478亩，主要建设75万吨/年丙烷脱氢装置，30/67万吨/年PO/SM联合装置，20万吨/年顺酐装置，25万吨/年气分装置及配套公用系统、罐区、火炬等。截至2022年5月，已完成投资18.5亿元，计划年底前完成投资50亿元。
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