Guangdong to emerge as China's oil-refining hub

South China’s Guangdong province is becoming an important destination for oil imports from the Middle East, South Africa and Southeast Asia, and a huge oil refining capacity is forming in the province. Three oil refinery expansion projects by Sinopec, the country’s second largest oil and gas producer next to PetroChina, are under construction in Guangzhou, Maoming and Zhanjiang, with their respective capacity to reach 13 million tons, 20 million tons and eight million tons. The Sino-Kuwait refinery project in the province is the biggest join venture (Sino-foreign) in China, and was approved in July 2006 by the National Development and Reform Commission. It is designed with an annual oil refining capacity of 13 million to 15 million tons and will require a total investment of US$5 billion. It is targeted for completion by 2010. (December 20, 2006)