June 27, 2008
China’s CNPC and Russia’s Rosneft to Build Refinery in China, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) -- China National Petroleum Corporation (CNPC) (Beijing, China) and Russia's national oil company, Rosneft (Moscow), have agreed to invest $4 billion to build a joint venture oil-refining company in China with an annual capacity of 10 million tons. Currently, both oil giants in China, CNPC and China Petroleum and Chemical Corporation (NYSE:SNP) (Sinopec) (Beijing, China), are trying to strengthen some of their perceived weaknesses. CNPC is working on strengthening its refining operations and Sinopec is trying to expand its upstream oil exploration capability.
For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=134838, or browse other breaking industrial news stories at www.industrialinfo.com.Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information, send inquiries to [email protected] or visit us online at www.industrialinfo.com.
Related News Articles
Chinese Make Large-Scale Ethylene-Pelleting Machine
Major Gasoline and Diesel Shortages Force China to Switch Focus from Exports to Imports
Sinopec Increases Imports and Production of Refined Products to Meet Rising Demands
Contact: Joe Govreau 713-783-5147
SOURCE: Industrial Info Resources