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Shell, Cnooc Parent in Talks on Refinery Deal, China Daily Says

By Bloomberg News – Jan 11, 2011 3:21 AM GMT+0000

Royal Dutch Shell Plc is in discussions with China National Offshore Oil Corp. to participate in the second phase of the Huizhou refining project, the official China Daily reported.

A chemicals venture by Shell and China National Offshore is keen to join in the refining project in southern China, the newspaper reported, citing Zhu Mingcai, deputy chief executive officer of the venture. The second phase of the plant will require more than 50 billion yuan ($7.5 billion) of investment, China Daily said, citing unidentified company officials.

Li Lusha, Shell’s Beijing-based spokeswoman, declined to comment on the report. Liu Xiaobiao, the spokesman at China National Offshore, didn’t answer calls to his office and mobile telephones seeking comment.

The parent of Hong Kong-listed Cnooc Ltd. started operations at the refinery in Guangdong province in 2009. China National Offshore plans to almost double the plant’s capacity to 22 million metric tons a year, or 440,000 barrels a day, by 2013 in its second phase of development, according to President Fu Chengyu.

–Winnie Zhu and Baizhen Chua. Editors: Ryan Woo.

To contact the Bloomberg staff on this story: Winnie Zhu in Shanghai at [email protected]; Baizhen Chua in Beijing at [email protected]

To contact the editor responsible for this story: Jane Lee at [email protected].

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