China: Dalian Port’s Oil Terminal Starts Operation

Dalian Port’s 450,000-ton crude oil terminal was put into operation on Aug. 16, and the biggest oil terminal in China is capable of unloading 19 million tons of oil per year.

The port, which is built by Dalian Port (PDA) Co Ltd  and China National Petroleum Corp or CNPC, brought its annual oil offloading capacity total 80 million tons, equivalent to 1.6 million barrels per day.

At present, there are two large oil refining plants in Dalian, Liaoning Province. One is capable of processing 400,000 barrels of crude oil per day; while the other one’s daily processing capacity is around 200,800 barrels.

In the first half of this year, the Hong Kong-listed firm Dalian Port (PDA) reaped RMB 326 million in net profit, and its gross profit margin declined to 48% year on year from 49.6%.

(chinaknowledge)

[mappress]

Source: chinaknowledge, August 19, 2010;