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AFX Europe (Focus): China CNOOC, Shell JV petrochemical complex comes on stream

Apr 03, 2006
BEIJING (AFX) – China National Offshore Oil Corp (CNOOC) said its petrochemical complex, developed as a joint venture with Royal Dutch/Shell, has started operations.
The CNOOC/Shell facility based in Daya Bay Economic and Technology Development Park in Huizhou city, Guangdong province, has an annual capacity of 800,000 tons of ethylene and 430,000 tons of propylene, CNOOC said in a statement.
“The successful launch of operations signals a substantial step in CNOOC's integration of upstream and downstream production,” CNOOC chairman Fu Chengyu said.
The CNOOC/Shell facility will produce 2.3 mln tons of petrochemical products, the company added.
In November 2002, CNOOC and Royal Dutch/Shell agreed to invest a total of 4.2 bln usd in the joint-venture petrochemical complex.
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