This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Honeywell To Help China Meet Growing Energy Demand

BEIJING, March 25, 2014 /PRNewswire/ -- Honeywell ( NYSE:HON) today announced that PetroChina Company Limited will expand its use of Honeywell advanced information management and process modeling software tools to 17 additional refining and petrochemical sites across China, to help meet the country's growing demand for chemicals and transportation fuels. PetroChina currently uses Honeywell's information solutions at 13 locations.

Honeywell's Refining and Petrochemical Modeling System (RPMS) and its Intuition® Executive advanced information management software will give PetroChina plant operators the ability to monitor operations across its entire organization to help provide the real-time information they need to better improve the profitability and efficiency of their plants.

"Refiners and chemical plant operators must make complex business decisions quickly to take advantage of rapidly changing market conditions – from prices for feedstocks such as crude oil and natural gas, to rising demand for finished products," said Aldous Wong, vice president and general manager, Honeywell Process Solutions, China. "Implementing these Honeywell solutions across more of their locations will help PetroChina maximize profitability through better visibility and efficiency of their overall operations, and help them meet the growing demand for energy."

China is the world's largest consumer of energy and the second largest consumer of crude oil, slightly behind the United States, according to the U.S. Energy Information Administration. Many analysts expect China to become the world's largest importer of crude oil within the year, putting pressure on its refining and petrochemical facilities to continue to improve their efficiency.

PetroChina, the country's largest oil and gas producer and distributor, first deployed RPMS at its headquarters in Beijing, and 12 refineries and petrochemical facilities in 2005. The success of that project has led to the current expansion project that will extend implementation of the advanced planning technology to cover all its refining and petrochemical businesses.

PetroChina expects to complete the project within two years.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASDAQ 4,776.5080 -51.8170 -1.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs