Oil & Gas Chemical
Current Status
Hainan has formed a complete oil and gas industry chain
integrating
"exploration,
development,
processing,
warehousing, pipeline transportation, and sales". Among them,
Yangpu has developed 10 million tons of oil refining, 10 million
cubic meters of oil and gas reserves, aromatic hydrocarbons,
and polyester industries and chain, crude oil, refined oil, port
logistics and other supporting industries, while Dongfang Port
Industrial Park has developed natural gas, methanol industry
chain, and fine chemical industry.
Development Direction
Development Advantages
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Vast sea area with abundant natural gas and
oil resources, accounting for more than 1/3
of the total reserves of the country.
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The closest
Oil and gas
petrochemical and oil
and gas reserves to the
South China Sea oil
and gas resources and
the Middle East
exploration
Oil and gas
refining
Resources
Location
Policies
Petroleum
Fine Chemicals
New material
Covering the two
major petrochemical
product markets
around Northern Gulf
and ASEAN
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Hainan Free Trade Port policies
Value-added rules for processing and
other free trade port policies are pilot
tested in Yangpu.
Oil and gas
reserves
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The downstream of the oil and gas chemical industry chain has broad
development potential. The 1 million ton ethylene project in Yangpu is
underconstruction. New oil refining and ethylene projects are planned, bringing
a lot of investment opportunities to the downstream industry.
Encourage well-known overseas companies to participate in the
exploration and development of oil and gas resources in the South
China Sea. The requirement that oil and gas exploration and development must
be carried out with a revenue sharing contract with an oil and gas company who
has foreign cooperation approval from the Chinese government is eliminated.
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Imported oil and gas exploration and chemical production equipment
are exempt from tax. Exemption of import tariffs, import value-added tax and
consumption tax on imported production equipment for self-use will effectively
reduce production costs of enterprises.
New Opportunities
for FTP Investment