China Trade Information

China National Petroleum Corp (CNPC), parent of the country’s largest oil maker PetroChina, will put a 10-million-ton oil refinery into production in Guangxi Zhuang Autonomous region in December this year, according to sources.

It was reported that the new refinery, which is located in Qinzhou city on the northern shore of the Beibu Gulf, aims to ease tight supply of oil product in Southwest China, especially in such provinces as Yunnan, Guizhou and Guangxi.

The new plant, with a total investment of more than RMB 15 billion, commenced construction at the end of 2006, and is designed to have an annual capacity of processing 10 million tons of crude oil and producing 6.7 million tons of refined products. The revenue is expected to exceed RMB 40 billion each year.

Currently, CNPC provides oil products to consumers in Southwest China via a refinery in Dalian. Upon the completion of the refinery in Qinzhou, CNPC’s transportation costs of the oil products could be reduced by RMB 200 per ton.

Tags: CNPC, PetroChina, Petroleum

• Yunnan to build new gas pipeline (0)
• Yanzhou Coal to invest in parent’s coal liquefaction project (0)
• Xinjiang Provides Succor to Sinopec (0)
• Xinjiang crude storage tanks start operations (0)
• Xinao Gas 2007 Profit Climbs 34% as China’s Energy Demand Rises (0)
• Woodside signs LNG deal with CPC (0)
• White Paper: Chinas Energy Conditions and Policies (0)
• Vice premier urges more energy output to ensure supply (0)