Chongqing refinery gets approval

PetroChina’s 10 million ton per year greenfield refinery in Changshou District of Chongqing Municipality, has been approved by relevant state departments, local media Chongqing Daily quoted PetroChina Vice President Liu Hongbin as saying. It will be PetroChina’s second 10-million-ton-year refinery in the southwest, the turf of its rival Sinopec, the other being in Qinzhou, another grassroots refinery located in the Guangxi Zhuang Autonomous Region. Oil to be pumped from Myanmar is expected to feed the refinery, which is designed to roll out 6.5 million tons of oil products a year, said Liu. The Changshou refinery is expected to generate 28 billion yuan (US$3.7 billion) in revenues. Investment in the Changshou refinery is estimated at 15 billion yuan (US$2 billion), Liu said. (September 26, 2007)