24 October 2008 05:37 [Source: ICIS news]
SHANGHAI(ICIS news)--State-run oil major China National Offshore Oil Corp (CNOOC) plans to invest yuan (CNY) 45bn ($6.5bn) to expand its current refinery capacity and to build an ethylene cracker in Huizhou in southern province of Guangdong, a company source said on Friday.
CNOOC would raise the capacity of the refinery by 83% to 22m tones/yr from the current 12m tonnes/year and would construct a 1m tonnes/year naphtha cracker. The 12m tonnes/year refinery was slated for a start-up at the end of this year.
“The on-spec products will likely be produced next year,” the source said.
“We have started construction last month, and hopefully they could come on stream in 2011,” the source said, adding that any uncertainties would likely delay the start-up of the projects, but did not elaborate.
“The refinery expansion is also to increase the refined oil products (such as gasoline and diesel) to south ?xml:namespace>
CNOOC has not yet decided on building some downstream petrochemical plants, the source added.
Please visit the complete ICIS plants and projects database
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections