MaterialsHengyi Petrochemical cites national security in seeking supply stability amid Iran oil worriesChina's Xinjiang Uygur Autonomous Region is rich in coal, putting it at the center of a growing coal-to-chemicals industry in the country. (China Daily via Reuters)KENJI KAWASEMay 18, 2026 15:41 JSTTOKYO -- Hengyi Petrochemical, one of China's biggest private players in the sector, is building what it says will be the world's largest plant to produce a key chemical product from coal, instead of crude oil, as Middle East tensions cloud the oil supply outlook.