Sinopec to double refinery capacity at Fujian

China Petrochemical Corp. (Sinopec Group) and the Fujian government, which together hold a 50% stake in a local large-scale refinery, plan to gradually double the crude oil processing capacity of the refinery between 2010 and 2015 from its current level of 12 million tons per year, a report said.ExxonMobil Corp. and Saudi Arabian Oil Co. (Saudi Aramco) each holds 25% stake. The joint venture refining and petrochemical complex is run by Fujian Refining & Petrochemical Co. The construction of facilities for the petrochemical plant portion of the complex will be completed by the end of this year, and will be operational in March 2009. (August 22, 2008)