Here is update on $9 Billion 300-500MBD KPI-Sinopec JV China Guangdong Refinery/Petchem – looks like Total has replaced Shell (both Shell & Dow were courted in 2009) who withdrew from project. KPI was trying to sell 20% of its 50% in project (would be 10% of total). The startup date is still at revised target of 2015 but could hit delays. A coking unit has still not been confirmed on this project
The project location was originally (approved ~ 2006) at Nansha/Guangzhou but moved to Zhanjiang/Guangdong in May 2009 because of local environmental uproar and Shell was originally a partner but dropped out.
Kuwait (worlds 7th largest crude exporter) aims to double its current 500 MBD exports to China Petrochemical/Refineries like this one (…….Course with KPI bringing on Mega expansions at its own 3 (2 soon to be coking) refineries there will be more competition for those crude barrels in Mideast down the road).
Regards