PetroChina mulls second 10-mln-ton capacity refinery in Guangxi
PetroChina Co Ltd (HK 0857), the country’s largest oil and gas producer, is considering building a second 10-mln-ton capacity refinery in southwestern China’s Guangxi region, parent China National Petroleum Corp (CNPC) said.
The refinery will be located in the Beibu gulf area, CNPC said, disclosing the plan when Premier Wen Jiabao visited PetroChina’s first refinery project in the region — Guangxi Petrochemical — during last week’s holiday.
CNPC did not provide further details on the second refinery project.
The company’s first refinery in Qinzhou, Guangxi, has an annual capacity of 10 mln tons. That facility involves total investment 15.2 bln yuan. It is expected to come on stream this year.
The refinery is designed to mainly process crude oil sourced from CNPC’s overseas oil projects, with annual oil products output seen at over 7 mln tons. The target market is the southwest of the country.
State media earlier reported that the refinery will process crude mainly from Sudan, and will pipe oil products to Yunnan and Guizhou provinces via the Maoming to Kunming pipeline.
Tags: CNPC, PetroChina, Petroleum