Indian major Indian Oil Corporation (IOC) is mulling cooperation with China's state-owned China Petroleum and Chemical Corporation (Sinopec) to build a US$4 bln refinery-cum-petrochemical complex in Shanghai. IOC is looking at a 26% share in the project, expected to go on-stream by 2009. Sinopec is the largest producer and marketer of petroleum products and petrochemicals in Asia and has a refining capacity of over 140 million tons. IOC, with a refining capacity of 54 million tons, is India's biggest refiner.
19-Dec-05 
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