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In the first month of 2024, Dalian Petrochemical Company adhered to the general principle of "making progress while maintaining stability" and its "12367" strategic framework. By scientifically balancing safety with development and safety with profitability, the company united its workforce to overcome challenges with confidence, ensuring a high-quality start to the year and achieving fruitful operational results. The company successfully met its January production and sales targets, topped the profitability rankings among refining and chemical enterprises, and demonstrated a promising outlook for high-quality development through transformation and upgrading.
Striving for "zero" incidents while firmly upholding the bottom line for safety and environmental protection. Dalian Petrochemical fully implemented the Group's directives regarding safety during the current period and the Spring Festival. Upholding the philosophy that "safety overrides everything else," the company focused on the goals of "zero accidents, zero pollution, and zero injuries," effectively shouldering the responsibility to prevent major risks and eliminate significant hazards through concrete action. Simultaneously, the company intensified its winter safety measures (focusing on eight key preventive areas), conducted comprehensive pre-Spring Festival safety inspections, and strengthened the management of safety instrument alarms, thereby shifting its safety defense lines further upstream.
Refining operations and management to unleash high-efficiency production capacity. As the company’s transformation and upgrading progressed, maximizing the value of operating units became a critical challenge that Dalian Petrochemical had to address.
Prioritizing "stability." Dalian Petrochemical maintained that "great stability yields great benefits." As units neared the end of their long-cycle operation periods, the company refined and strengthened production controls. It strictly enforced requirements for "meticulous inspections, careful monitoring, and precise operations," established a normalized supervision system for "three major disciplines," prioritized the tiered management of operational changes, and intensified risk analysis regarding unit operations and process technology. This enhanced the company's sensitivity to fluctuations in process parameters and equipment anomalies. Solutions to operational bottlenecks—such as process corrosion prevention and the optimization of water and steam systems—were successfully initiated, providing technical support for stable operations. In January, the unit stability rate reached 99.92%, laying a solid foundation for maximizing high-efficiency production capacity.
Prioritizing "excellence." Dalian Petrochemical has focused on high-value products—such as jet fuel, gasoline, and paraffin—by optimizing key operational parameters and fully tapping into processing potential. In January, the company produced 136,000 tons of jet fuel (226% of the volume from the same period last year) and 16,500 tons of paraffin products (112% of the previous year's figure). Responding to changes in export gasoline specifications, the company adjusted its gasoline hydrotreating units and optimized blending formulas, resulting in an additional 6,600 tons of National VI-B gasoline production.
By practicing meticulous management and tapping into internal potential, the company has stimulated the intrinsic drive for quality improvement and efficiency gains. Dalian Petrochemical views value creation as the fundamental principle for high-quality development. Guided by market demands, the company has strengthened "four-precision" management (precision in planning, production, cost control, and marketing) and accelerated its transition from a purely production-oriented entity to a market-driven business. It has established an operational management system centered on financial management and conducts production optimization based on annual budgets and efficiency-enhancement measures.
The company employs systems thinking to optimize the organization of crude oil intake. By holistically considering factors such as safety risks, the operation of core units (like catalytic cracking), and product mix, it optimizes the selection of crude oil varieties. It strategically purchases lower-priced crude oil and adjusts the timing of deliveries to reduce procurement costs.
Adhering to a low-inventory operational philosophy, the company mitigates the risk of inventory devaluation losses. Through seamless coordination across supply, production, sales, storage, and transportation, it has steadily achieved inventory reduction targets, lowering semi-finished product inventory by 4.33%. Furthermore, the company has optimized its product mix to maximize profitability by increasing alkylation unit loads, reducing industrial gas output, and boosting propylene production. These measures have led to a higher output of high-value-added products, with the yield of high-efficiency products increasing by 22.48% year-on-year.
