Sinopec to acquire controlling stake in Dragon Aromatics: Reports

摘要

Sinopec is in discussions to acquire a controlling stake in Dragon Aromatics, a producer of para-xylene (p-xylene) and benzene, according to Reuters and other regional media reports. Dragon Aromatics is currently owned by Taiwan-based Xianglu Group. The talks are at an advanced stage, the reports say. Sinopec has been in discussions with Dragon Aromatics since the latter suffered an explosion at its Zhangzhou, China, complex on 6 April that stopped production there. Dragon Aromatics has the capacity to produce 1.6 million m.t./year ofp-xylene and 460,000 m.t./year of benzene. Dragon Aromatics also runs a 100,000-bbl/day condensate splitter and a 3.2-million m.t./year hydrocracker at the site, to supply the p-xylene plant.