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Video: Technology Innovations - Crude Oil to Chemicals
20 May 2019
A revolutionary new chemical process technology, called crude
oil-to-chemicals (COTC), could more than double the profitability
derived from a barrel of crude oil, according to a new, independent
economic assessment from
IHS Markit Process and Economics Program (PEP).
RJ Chang, Vice President, shares updates regarding upcoming COTC
projects, technologies involved, economic competitiveness, long
term impact and more.
Transcript:
What is crude oil to chemicals?
Crude to chemicals refers to several recently announced projects
with the aim to convert the maximum percentage per barrel of oil to
chemicals. And these projects, typically, based on the announced
projects, converts 40 to 60 percent per barrel of oil compared to
the traditional well integrated refinery petrochemical complex
which only converts about 20 percent per barrel oil to chemical; So
this is a huge jump. That means [with] a project you can produce at
least double amount of the chemicals. So, this is going to have a
huge impact in terms of global petrochemical production in the
future
