Friday, March 28, 2008

CNPC to invest RMB12 bln in Xinjiang refinery

China National Petroleum Corporation (CNPC), the country's biggest integrated energy company, plans to inject RMB 12 billion in its Dushanzi refinery in Xinjiang, the largest petrochemical project in the western region.

CNPC has totally invested RMB 30 billion in the Dushanzi refinery and petrochemicals complex since its construction started in 2005. The refinery project is expected to be finished in the third quarter this year and the ethylene project is scheduled for completion next year, according to sources.

The project is comprised of oil refining facilities and ethylene production facilities, with an annual capacity of 10 million tons and one million tons respectively.

The company has also built big projects in the northeast, northwest and southern regions to boost its refining capacity, and its first refining project in Guangxi in the south is 90% complete.

In 2007, China refined 326.79 million tons of crude oil, up 6.4%, according to the China Petroleum and Chemical Industry Association.

No comments:

Enter your email address:

Delivered by FeedBurner