By the end of 2025, the crude oil processing capacity in Guangdong Province will be controlled within 100 million tons

Gold Ten Futures, December 23rd, the Guangdong Provincial People's Government on the issuance of the "Guangdong Province 2024-2025 Energy Saving and Carbon Reduction Action Plan" notice. It is mentioned that strict petrochemical and chemical industry policy requirements. Strengthen the rigid constraints of the planning and layout of the petrochemical industry. Strictly control the new production capacity of refining, calcium carbide, ammonium phosphate, yellow phosphorus and other industries, prohibit the construction of mercury-based polyvinyl chloride and vinyl chloride production capacity, and strictly control the scale of new delayed coking production. New and renovated petrochemical and chemical projects must meet the energy efficiency benchmark level and environmental performance A-level level, and the production capacity for replacement must be shut down and dismantled in a timely manner as required. Completely phase out 2 million tons/year and below constant and decompression devices. By the end of 2025, the province's crude oil processing capacity will be controlled within 100 million tons