Brunei’s Shell to supply crude to Hengyi Industry’s Brunei project
26 October 2012 09:19 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>China’s Hengyi Petrochemical said on Friday that Brunei Shell Petroleum (BSP) has agreed to supply crude to its subsidiary Hengyi Industry’s refinery and chemical project in Brunei for 15 years.
Under the agreement, BSP will supply around 20m barrels (approximately 2.75m tonnes) of crude a year to Hengyi’s Brunei facility for a 15-year period, the Chinese company said in a statement filed with Shenzhen Stock Exchange.
The Brunei project is still pending approval from the country’s regulators, the company added.
Hengyi Petrochemical said in April this year that an 8m tonne/year refinery will be built in the first phase of the Brunei project in Pulau Muara Besar. The refinery will produce 1.5m tonnes/year of naphtha, 1.5m tonnes/year of paraxylene (PX) and 500,000 tonnes/year of benzene as well as oil products such as diesel, gasoline and jet fuel.
BSP is a 50:50 joint venture between Shell and the Brunei government.By: Fanny Zhang+65 6780 4359
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