"China is the world's largest importer of crude oil. Getting more useable products from each barrel is critical to their operations, especially as they seek to take advantage of low-priced heavy crude, which is significantly harder to refine," said Zhiming Huang, general manager of Honeywell UOP in China. "Coupling that challenge with increasingly stringent fuel and emission standards, Chinese refineries are hungry for a breakthrough technology to enable more profitable operations by finding more gold' in the bottom of every barrel." Among the survey findings:
- Each of the 150 respondents said residue upgrading technologies are of "great importance" to their current business and that upgrading crude residue will remain a top priority in the next decade.
- Respondents expect profitability to increase significantly after upgrading to residue processing technology.
- Of those surveyed, 83 percent said the need to upgrade heavy crude oil and improve conversion of light oil was a driving factor in their interest in upgrading technology.
- Respondents were asked which products they prefer to manufacture in higher quantities. One-hundred percent of respondents chose gasoline and diesel, which help improve the profitability and level-up cost pressure of the enterprise.
- The majority of respondents believe hydrotreating and hydrocracking are the best technology routes to process crude residue at Chinese refineries. Most also said they were not optimistic about the future prospects of traditional delayed coking processes due to their lower light oil yield, high output of lower-value coke and overall lower economic benefits.
Honeywell Performance Materials and Technologies (PMT) is a global leader in developing advanced materials, oil and gas processing technologies and industrial automation solutions. PMT's Advanced Materials businesses manufacture a variety of high-performance products, including environmentally friendlier refrigerants and materials used to manufacture products such as bullet-resistant armor, nylon, computer chips and pharmaceutical packaging. Process technologies and equipment from PMT's UOP business (www.uop.com) are the foundation for the world's oil and gas industry, efficiently producing gasoline, diesel, jet fuel, petrochemicals, natural gas and renewable fuels. PMT's Process Solutions business (www.honeywellprocess.com) is a pioneer in automation control, instrumentation and services for the oil and gas, refining, pulp and paper, industrial power generation, chemicals and petrochemicals, biofuels, life sciences, and metals, minerals and mining industries. Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.
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