January 18, 2025 – Sichuan Petrochemical Achieves Remarkable Success in 2024 Operations
Sichuan Petrochemical has announced impressive achievements in its 2024 operations. At a recent production and operation management meeting, various functional departments within the company presented outstanding performance reports, highlighting a 19% year-on-year increase in crude oil processing volume and surpassing the targeted ethylene production, both of which set new historical records.
Over the past year, Sichuan Petrochemical has focused on the goal of “safe, stable, long-term, and optimal operations,” prioritizing production safety and stability. By implementing lean management, the company has driven its transformation and development, ranking among the top in the refining and chemical integration industry of China National Petroleum Corporation (CNPC) in terms of benefits. Not only did production indicators such as crude oil processing volume and ethylene production reach historic highs, but the output of various high-efficiency products also achieved the best levels in history.
According to Color Masterbatch Industry Network, Sichuan Petrochemical regards stable and efficient production and operation as its primary task, continuously strengthening production and operation control to steadily improve operational efficiency. Facing resource changes during high-load production, the company implemented precise measures, including crude oil and heavy oil demetallization technological breakthroughs and trials of iron-resistant and coke-reducing catalysts, effectively achieving heavy oil balance. Meanwhile, the company continuously optimized the entire value chain of “production, storage, transportation, and sales,” maintaining reasonable inventories of raw materials and finished products, vigorously expanding product markets, with the in-region consumption ratio consistently above 80%. Additionally, the company implemented 100 quality and efficiency improvement projects, accumulating more than 500 million Chinese yuan in efficiency gains.
In terms of lean management, Sichuan Petrochemical has continuously consolidated its foundation, advancing measures such as the “five-in-one” inspection tour and the “vocal ticket system” for critical operations, meticulously organizing production operations, and managing equipment throughout its lifecycle. The annual instrument automation rate exceeded 99.7%, the equipment integrity rate reached 99.9%, and the unit monitoring coverage rate was 100%. The company also deepened the “three presentations and one look back” work mechanism, conducting related activities 136 times throughout the year and formulating 285 rectification and improvement measures.
Regarding transformation and upgrading, Sichuan Petrochemical has focused on green, intelligent, and high-end development, accelerating its pace. The company has continuously promoted the strategy of “reducing oil and increasing chemicals, reducing oil and increasing specialties, reducing carbon and increasing greenness.” Jet fuel production increased by 30% year-on-year, and bonded jet fuel exports doubled, accounting for over 43% of CNPC’s overall bonded jet fuel share. At the same time, the growth rates of chemical products such as polybutadiene rubber and butanol exceeded 20%, with record-high production and sales volumes for multiple products. The company also vigorously promoted the acceleration project for new products and materials, achieving a 100% completion rate for annual development tasks. Furthermore, as the second batch of digital transformation pilot enterprises within the group, Sichuan Petrochemical fully utilized digital management tools to provide early warning and decision-making analysis for production operations and process technology, driving the company’s digital and intelligent development.