China's oil giant PetroChina has won Beijing's approval to build a US$2.5 billion petrochem complex in Chengdu, in southwest China. The 800,000 tpa ethylene plant is scheduled to be completed by 2010, and will be the second-largest such project in China's remote western regions. PetroChina will hold a 51% stake in the project and Chengdu Petrochemical Co Ltd. will take the other 49%.
PetroChina is considering a new refinery at the same site to supply feedstock to the petrochemical plant by processing Kazakh oil set to flow into northwest China via a newly opened Kazakh-China pipeline. A firm plan of a new refinery will depend on the amount of crude received from Kazakhstan. Refinery capacity of about 200,000 barrel per day (bpd) would be required to feed a 800,000 tpa cracker.
02-Jan-06 
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