After focusing on oil and natural gas exploration and production offshore China, China National Offshore Oil Corporation (CNOOC) has been trying to expand its business to the middle and downstream of the oil industry. CNOOC, China's largest offshore oil producer, has laid the cornerstone for its wholly-invested oil refining project in Huizhou City, to achieve its goal of establishing an integrated energy company with upstream business including exploration and production, as well as middle and downstream businesses such as oil refining and petrochemicals.
At an investment outlay of US$2.38 billion, the project is the second largest project of CNOOC
16-Dec-05 
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