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CNOOC to build facility

June 19th, 2012 | Global Times

CNOOC, China’s third largest State-run refiner by sales revenue, has started building a 60,000-barrel-per-day crude processing facility, to boost its still nascent refining and fuel marketing business in the country.

The new facility, to be built in Taizhou in East China’s Jiangsu Province, costs 10.2 billion yuan and is slated to begin operations in 2015.

Company officials said the new investment, including 10 main processing facilities, would be on top of an existing plant at the same site that produces mainly asphalt and fuel oil.

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Category: China Oil Monitor