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CNPC to expand oil refinery in Sudan
By Ding Yining |
November 20, 2009, Friday
|
Online Edition
Online Edition
CHINA'S largest oil and gas company said today it had signed agreements with Sudan to strengthen cooperation in oil refining.
China National Petroleum Corp, the parent of PetroChina Co, has signed a memorandum of understanding with Sudan government to expand the phase II of the Khartoum refinery, the company said on its Website.
The memorandum also covers prepayment agreements concerning crude trade but the statement didn't elaborate.
The Khartoum refinery was established in 1997 and first put into operation in May 2005, with both parties holding equal stakes.
Its phase I completed expansion in June 2006 and annual processing capacity reached 5 million tons.
The refinery's capacity is expected to be doubled after completion of the expansion in 2011.
CNPC said it will also swap shareholding in Block 6 with Malaysia's Petroliam Nasional BHD.'s Block 5A in Sudan, without giving further details.
PetroChina and its parent group are currently involved in more than 80 joint venture projects in 29 countries around the globe to expand its overseas business in exploring, refinery and sales.
China National Petroleum Corp, the parent of PetroChina Co, has signed a memorandum of understanding with Sudan government to expand the phase II of the Khartoum refinery, the company said on its Website.
The memorandum also covers prepayment agreements concerning crude trade but the statement didn't elaborate.
The Khartoum refinery was established in 1997 and first put into operation in May 2005, with both parties holding equal stakes.
Its phase I completed expansion in June 2006 and annual processing capacity reached 5 million tons.
The refinery's capacity is expected to be doubled after completion of the expansion in 2011.
CNPC said it will also swap shareholding in Block 6 with Malaysia's Petroliam Nasional BHD.'s Block 5A in Sudan, without giving further details.
PetroChina and its parent group are currently involved in more than 80 joint venture projects in 29 countries around the globe to expand its overseas business in exploring, refinery and sales.
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