THE WALL STREET JOURNAL
JULY 29, 2009
HUIZHOU (Dow Jones)–A petrochemical joint venture between China National Offshore Oil Corp. and Shell Nanhai BV, a unit of Royal Dutch Shell PLC (RDSA), plans to expand its refinery near Huizhou in southern China by 20% by mid-2010, since demand for its products is on the rise, a top executive said.
Paul Lo, chief executive of Cnooc and Shell Petrochemicals Co., said Tuesday the expansion would add 160,000 metric tons of ethylene to the plant’s existing capacity of 800,000 tons and would require a total investment of around CNY1 billion (US$147 million). He didn’t provide details on the investment.
Huizhou city is home to Cnooc’s first large-scale refinery with an annual production capacity of 12 million tons as well as a $4.3 billion petrochemical joint venture with Shell which produces 800,000 tons of ethylene a year.
Cnooc is the parent of Hong Kong-listed Cnooc Ltd. (CEO).
-By Jonathan Cheng, The Wall Street Journal Asia; 852-2573-7121; [email protected]
*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.
