China: CNPC’s Qinzhou Refinery Plans Processing Capacity Increase
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Monday, 09 March 2009 |
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China National Petroleum Corp plans to double the crude oil processing
capacity of its Qinzhou Refinery in southern China's Guangxi Zhuang
Autonomous Region.
According to an employee at CNPC Qinzhou refining subsidiary, who asked to remain anonymous that CNPC has already applied to government regulators to build the second phase of the refinery that will add 10 million tonnes of processing capacity.
The employee said CNPC has nearly completed construction of the refinery's CNY 15.3 billion first phase which is expected to be able to process 10 million tonnes of Sudanese crude oil each year. Qinzhou is CNPC first large scale refinery in southern China. The second phase includes plans for the construction of depots that could store 3 million tonnes of crude oil and 1 million tonnes of oil products, as well as several petrochemical plants that would use refined oil as feedstock.
According to the report, if the second phase is approved, Qinzhou is will become one of the largest refineries in China. CNPC estimated that the refinery would earn revenues of CNY 300 billion a year once both phases are completed.
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