CNOOC Corp approved to build oil terminal in Huizhou
China National Offshore Oil Corp, parent of China’s largest offshore oil producer CNOOC Ltd<883>, has won approval from the National Development and Reform Commission (NDRC) on an oil terminal project in Huizhou, Guangdong province, according to Shanghai Secuties News on Friday.
Under the project, a 300,000-ton crude oil berth with a designed capacity of 18 million per year and a work berth with supporting facilities will be built in Mabianzhou workaround.
Four 5,000-ton oil product berths and a 30,000-ton oil product berth, with a combined capacity of 7.4 million a year, will be constructed in Donglian workaround.
Meanwhile, the company will build a 20,000-ton oil coke berth with an annual capacity of 2 million a year.
The project has a total investment of about RMB 1.063 billion, of which, CNOOC Corp will inject RMB 372.05 million, and the rest will come from bank loans.
It was reported that CNOOC Corp’s first huge refinery, with an annual output of 12 million tons, was located in Huizhou and would be put into production in the following few months.
Tags: CNOOC, NDRC