China's Hengyi Petrochemical to proceed with Brunei refinery expansion

About this update from Hengyi Petrochemical Co., Ltd. Class A

China's Hengyi Petrochemical SZSE:000703 said on Monday it will proceed with the second phase of its refinery and petrochemical project in Brunei, which is expected to be completed by the end of 2028.Once completed, the total refining capacity at the Brunei complex will increase to 20 million metric tons per year (400,000 barrels per day), it said in a statement on the Shenzhen exchange.The expansion aims to enhance Hengyi’s refining and petrochemical capabilities while supporting Brunei’s downstream industrial development, the company added.The second phase expansion, set at 12 million tpy of crude processing capacity, will produce mainly diesel, paraxylene, benzene, polypropylene and other higher-value refined and petrochemical products, Hengyi said.Hengyi's refinery at Pulau Muara Besar in Brunei has a crude-oil processing capacity of 160,000 bpd and it began operations in late 2019.

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