KPC and Total sign MoU with Sinopec to develop full-conversion refinery integrated with petrochemicals and marketing

19-Apr-12
Total has signed a comprehensive Memorandum of Understanding (MOU) with Kuwait Petroleum International (KPI) and Petrochemicals Industries Company (PIC) , two wholly owned subsidiaries of Kuwait Petroleum Corporation. The MOU relates to a targeted participation in the Zhanjiang project in China. This project consists of a planned development of a large size (300,000 bpd), full-conversion refinery integrated with petrochemicals and marketing, in partnership with Sinopec. The proposed refining and petrochemicals platform will be designed to process Kuwaiti crude as feedstock and to produce high-quality refined and petrochemicals products. "Total is proud to have been selected by Kuwait Petroleum Corporation as its preferred partner to participate in the project of a top-performing refining and petrochemicals platform with Sinopec in China. This agreement will be the keystone of a long-term relationship with KPC", declares Christophe de Margerie, Total Chairman and Chief Executive Officer. "The project is in line with our strategy of expanding in growth markets, based on a few highly competitive and integrated platforms", he adds. "KPC is pleased to expand its cooperation with Total" declares Mr Farouk Al Zanki, KPC Chief Executive Officer, after the signing of the MOU. "Total, with its long experience in the Downstream business in China coupled with know how in Refining and Petrochemicals operations, will add value to the China project. Moreover Total and KPC's strategic objectives in Guangdong are highly aligned", he adds. KPI, PIC and Total have agreed to form a consortium, which will potentially hold interests in two JVs together with Sinopec. The MOU sets forth the agreement among KPI, PIC and Total regarding the development of the project.
  More News  Post Your Comment

Previous News

Next News

{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

*

Name Required.

*

Please enter Company Name.

*

Please Select Country.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha
Moulds for lotion pump

Moulds for lotion pump