Center
Mideast nations establish refineries in China
By Tu Lei (chinadaily.com.cn)
Updated: 2006-11-28 09:23
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Mideastern oil-rich countries such as Saudi Arabia and Kuwait are busy setting up refineries in China.
Saudi Aramo contacted with China Petroleum and Chemical Corp (Sinopec), the country's largest refiner, ten years go. In 2004, they signed the first agreement to set up a petroleum and petrochemical project in East China's Fujian Province.
In July 2005, the project started with an investment of 2.89 billion yuan (US$367.07 million) among Fujian Petrochemical Company Limited (50 percent), ExxonMobil (25 percent), and Saudi Aramco (25 percent).
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The full text is available in the November Issue ofChina Energy.
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