JV refinery gets green light

China has given preliminary approval to a US$5 billion refinery joint venture between China Petroleum & Chemical Corp. (Sinopec) and Kuwait Petroleum Corp. (KPC) in southern Guangdong province. The plant, which will likely have a capacity of between 300,000 and 350,000 barrels per day (bpd), will be located in the Nansha area of the provincial capital Guangzhou. (July 31, 2006)