| China plans oil refinery in Tianjin with Russia |
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| Tuesday,March 03,2009 Posted: 15:36 BJT(0736 GMT) |
| From:China Daily Article type:Reproduced |
China and Russia may jointly build a $4-billion oil refinery in the northern Tianjin municipality next year to cater to the rising domestic demand, according to the local government.
The project, developed by China National Petroleum Corp (CNPC) and Russia's OAO Rosneft, will be located in Binhai Industrial Zone. It can process 10 million tons of crude annually.
Construction of the project is scheduled to be completed in 2012, the Tianjin municipal government said on its website.
The project is part of an agreement signed by China and Russia in 2006 to expand their oil and gas production cooperation. The two parties set up a joint venture in Tianjin in 2007.
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Exchanges & Cooperation
