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China to realize coal-to-oil by 2007
www.chinanews.cn 2005-11-15 15:02:07
Chinanews, Nov. 15 - The coal-to-oil technology, a high-end coal
processing technology to increase added value of coal, has been
successfully developed in China. This technology with independent
intellectual property right can transform coal into gasoline, diesel oil
and other chemical products. The cost of each barrel is merely some
US$30, half of the current international oil price.
Shenhua Group's Deputy General Manager Zhang Yuzhuo said recently that
the first phase of its coal-to-oil model project has completed around 30%
work and 2.7 billion yuan (US$333 million) investment. The project is
expected to produce 1.08 million tons of oil products annually, namely
2,500 barrels per day. The project will be put into production by 2007.
Besides the model project in Erdos, Inner Mongolia, Shenhua Group will
build two larger coal-to-oil bases in Shaanxi and Ningxia. It is
predicted that by 2010, China will be able to produce at least 10 million
tons of oil from coal.
Zhang indicated that since these three projects are located on coal mines
or pitheads, coal price is quite low, about 100 to 150 yuan per ton.
Calculated on three tons of coal for one ton of oil product, the value
added will be about ten-fold. Moreover, the projects will solve the
bottleneck problem of transportation which is confining energy
development.
��Oil supply shortage may be made up with coal
&nbs
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