Late last year, Kuwait and China agreed to study setting up of a joint venture refinery and petrochemical complex between PetroChina and a unit of state-run Kuwait Petroleum Corp at an estimated cost of US$5 billion. Refinery capacity is to be 300,000 to 400,000 bpd and it will process mainly Kuwaiti crude.
Dow Chemical Co. and either British Petroleum or Shell are being considered as partners in the JV. Dow is Kuwaits’ strategic partner in the EQUATE Petrochemical Company. Last year KPC signed a deal with Royal Dutch Shell to work together in China while KPC's overseas unit Kuwait Petroleum International (KPI) inked a deal with BP for investments in China.
29-May-06 
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