Kuwait Petroleum expects the Chinese government to give the green light for a 300,000bpd refinery and petrochemical facilities by the end of the year.
The $9bn refinery, along with the petrochemical complex, will be built in China’s southeastern city of Zhanjiang, according to Kuwaiti News Agency Kuna.
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The project will be executed by Kuwait petroleum and China’s state-run Sinopec.
Kuwait is expected to supply crude oil to the facility and also offer a minority stake to an international oil company.
Kuwait’s crude oil exports to China surged 85.3% in January 2010 from the previous month to 749,230 tonnes, equivalent to around 177,000bpd, making it China’s sixth largest supplier of crude.
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By GlobalData
