PetroChina to reconsider refinery project in Sichuan

PetroChina Co. Ltd. will further study the feasibility of the planned refinery in Pengzhou, Sichuan, after a deadly earthquake hit the province on May 12. Jiang Jiemin, president of the company, told reporters that PetroChina would make sure the project is safe and environmentally friendly before they make the final decision. PetroChina had planned to invest US$5.7 billion in building a refinery in Pengzhou, which was expected to refine 10 million tons of oil and produce 800,000 tons of ethylene. (May 16, 2008)