KBR and Shaanxi Yanchang Petroleum in refining cracker venture
23 June 2011 16:53 [Source: ICIS news]
HOUSTON (ICIS)--KBR has formed a joint venture with ?xml:namespace>China’s Shaanxi Yanchang Petroleum to market and support a refining cracker technology, the US-based petrochemicals engineering firm said on Thursday.
KBR said the Veba Combi Cracker (VCC) technology processes refinery residuum, coal tar and coal oil mixtures into high-quality distillates or synthetic crude oil.
KBR said the joint venture will be operated by Yanchang subsidiary Beijing Petrochemical Engineering and KBR’s technology business unit.
Beijing Petrochemical president, Liu Chunquan, said China is looking at converting unconventional feedstocks such as heavy oil, coal tar and coal oil mixtures into transport fuels in order to meet rising demand.
Financial details were not disclosed.
KBR is marketing and licensing the VCC technology in collaboration with BP.
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