AFX UK (Focus): Kuwait Petroleum in talks with Sinopec, BP, Shell for China refinery – report: Friday November 11, 2005
BEIJING (AFX) - Kuwait Petroleum Corp (KPC) is in talks with China Petroleum & Chemical Corp (Sinopec), BP and Royal Dutch Shell about building a joint venture refinery with a daily crude processing capacity of 300,000 barrels in the southern province of Guangdong, the China Daily reported.
The newspaper, citing Hamzah Bakhash, a spokesman for KPC, said the talks are expected to be finalized in the first half of next year.
Further details on the joint venture were not provided, the paper said.
KPC, which established its Beijing representative office in March, plans to double its crude exports to China to 400,000 barrels per day from the current level of 200,000 barrels in "months", Bakhas said.
Chen Ge, a spokesman for Sinopec, said he was not aware of the partnership negotiations, the paper said.
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