10 January 2011 13:50 [Source: ICIS news]
LONDON (ICIS)--PetroChina has entered into a framework agreement with INEOS to form joint ventures for trading and refining activities at Grangemouth in ?xml:namespace>
Core to INEOS is also an agreement signed on Monday with PetroChina’s ultimate parent company, China National Petroleum Corporation (CNPC) to share refining and petrochemical technology and expertise. The agreement gives INEOS the opportunity to lever its technology and expertise into the
PetroChina and INEOS would work towards the formation of the proposed joint ventures by the end of June 2011, PetroChina said. No financial details were immediately available but an INEOS spokesman clarified that the agreement covered all INEOS refining and trading activities associated with the two refineries.
INEOS refining is
“The deals are consistent with Petro
The signing of the agreements was to be witnessed on Monday by Chinese Vice Premier Li Ke Qiang and
($1 = €0.78)
Graeme Paterson contributed to this article
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