Fueling a Sustainable Future
Established in 1970, Shandong Hengyuan Petrochemical Company Limited (SHPC) is a state-owned enterprise based in Linyi County, Shandong Province, China.
SHPC develops, produces, processes, and markets diesel oil, liquefied gas, propylene, propane, polypropylene, tert-butyl alcohol, oil slurry, asphalt, tert-pentene, ethybenzene, and other petroleum related products.
SPHC is one of the Top 100 Leading Enterprises in Shandong and one of the Top 500 Chinese Chemical Enterprises, achieving multiple accolades over the years. Its Chairman and General Manager, Wang Youde, was also named ‘One of Ten Outstanding Entrepreneurs in Shandong Province’ and received the ‘Outstanding People Award of National Advancements in Productivity’, amongst many other awards.
Shandong Hengyuan Group’s first Oil & Gas Investment in Malaysia.
SHPGC is the ultimate controlling shareholder of SHPC, which in turn is the indirect parent company of Malaysia Hengyuan International Limited (MHIL), the majority shareholder of Hengyuan Refining Company Berhad (HRC).
SHPC, incorporated in 1997, operates an independent oil refinery in Linyi County situated in the Shandong Province. Ranked No. 7 among refining companies in that province, it has a production capacity of 12 million tons per year.
SHPC manufactures petrochemicals (including Euro 5 grade diesel) as well as develops, produces, processes and markets diesel oil, liquid gas, propylene, propane, polypropylene, tert-butyl alcohol, oil slurry, asphalt, tert-pentene, ethybenzene and other petroleum related products. SHPGC recognises HRC’s business as complementary to its existing business portfolio and enables the Group to establish a strategic presence in Southeast Asia.
The completion of the acquisition of a 51.0% equity stake in HRC via MHIL in December 2016, marks the dawn of a new era for HRC. The natural synergy within the Group, which is equipped with the latest production technologies and know-how, will only serve to further enhance HRC’s profitability and continue to strengthen its position as a leading regional refinery products supplier.