Is Shandong Lijin Petrochemical a State-owned Enterprise?

Shandong Lijin Petrochemical is not a state-owned enterprise. Lijin Petrochemical Plant Co., Ltd. was incorporated at No.55 Yongxin Road, north of the city on March 23rd, 1994. At the beginning of its establishment, the company mainly processed and sold gasoline, diesel oil, solvent oil, wax oil, residual oil, crude oil, liquefied gas and asphalt, with 980 registered employees and a registered capital of 70.48 million yuan, which was not state-owned. Petrochemical industry, referred to as petrochemical industry for short, refers to the chemical industry with oil and natural gas as raw materials, with a wide range and many products. Crude oil is cracked, reformed and separated to provide basic raw materials including ethylene, propylene, butene, butadiene, benzene, toluene, xylene and naphthalene, from which various basic organic raw materials including methanol, formaldehyde, ethanol, acetaldehyde, acetic acid and naphthalene can be produced.