Sinopec has said that its subsidiary China Petroleum and Chemical Corp plans to increase annual crude oil processing capacity of Sinopec Yangzi Petrochemical by 56 per cent to 12.5m tons, or 251,000 barrels a day.

In addition, the annual high-sulphur crude oil processing capacity of Yangzi Petrochemical’s plant in Nanjing will be increased to 9m tons, or 180,700 barrels a day.

Sinopec said in an internal briefing that the expansion projects, which are expected to cost Rmb7.3bn, have secured regulatory approval.