CNPC, Qatar, Shell sign agreement on Taizhou refining complex


China National Petroleum (CNPC), Qatar Petroleum International and Royal Dutch Shell have signed a framework deal to build a joint refining and petrochemical complex in China.

The project includes constructing a 400,000-barrel-per-day oil refining facility, 1.2 million tons-per-year ethylene cracking unit and a crude oil berth, reports Reuters.

The Taizhou refining and petrochemical project, in southeast Zhejiang province, will use imported condensate and other raw materials to produce ethylene and other petrochemicals.

In May 2010, CNPC and Qatar Petroleum signed a 30-year deal for gas exploration and production in Qatar.