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Energy: Sinopec to complete Fujian oil pipeline before yearend

(Agencies)
Updated: 2008-04-17 08:50

China Petroleum & Chemical Corp (Sinopec), Asia's top refiner, plans to complete an oil products pipeline in eastern China's Fujian province before the end of the year.

The 345-kilometer pipeline, involving a total investment of around 1.6 billion yuan ($228.54 million), has two branch lines with one linking Quanzhou and Fuzhou, and another linking Quanzhou and Xiamen.

The company will also build five oil depots along the pipeline.

Fujian, an oil refining center, hosts a $5 billion Sinopec project there, in which Saudi Aramco and ExxonMobil are equity partners. Its project is expected to begin commercial operations this year.