CNOOC to build terminal in Guangdong

China National Offshore Oil Corp. (CNOOC) will start building a docking terminal and an undersea pipeline to deliver crude oil to its 240,000-barrel-per-day refinery in Guangdong province. The terminal and pipeline project will cost RMB1.2 billion (US$154.68 million) and will supply crude oil to CNOOC’s refinery in Huizhou, the company’s first ever refinery in China. The refinery is scheduled to be operational by June 2008. CNOOC has started some initial work on the terminal, and may soon begin construction proper when it gets approval from the State Environmental Protection Administration. CNOOC, China’s third-largest oil company by assets, plans to transport high-sulfur crude oil produced from Bohai Bay in the north to the southern refinery, which aims to produce a total of 7.3 million tons of gasoline, diesel fuel and kerosene a year. Guangdong is one of China’s top oil-consuming provinces. (February 1, 2007)