CHINA: CNPC, Rosneft JV approves feasibility study for Tianjin refinery & petchem complex

The project involves a refinery with a crude processing capacity of 16-million t/y, as well as the production of 1.4-million t/y of paraxylene. Completion is scheduled for the end of 2019.

Additionally, the board of directors adopted a resolution to optimize the oil refining segment of the Tianjin refinery by the end of February 2015. The partners signed a contract this past May which regulates raw material supply to the refinery at a volume of 9.1-million tons of oil.

PetroChina-Rosneft Orient Petrochemical is owned 51 % by CNPC and 49 % by Rosneft.

Source: Weekly "PetroChemical News", Durham, NC, USA; 17 Nov 2014
(Syed Rashid Ali, Karachi, Pakistan)