CNPC to build refinery in Chongqing

China National Petroleum Corporation (CNPC), parent company of PetroChina, is likely to establish a 10-million-ton-per-year refining project in Changshou, a county 50 kilometers from Chongqing Municipality in southwest China. CNPC is currently in negotiations with the local Changshou Chemical District on the project. Changshou Chemical District has a planned area of 31.3 square kilometers, and will mainly develop such industries as natural gas petrochemicals, chlor-alkali chemicals, petrochemicals and bioenergy.<BR>At present several well-known petrochemical companies are already there, including Sichuan Vinylon Works of Sinopec and YARACO, a joint venture between BP and Sinopec producing acetyl. (June 29,2007)