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Shell Global tender for feasibility CNPS-Rosneft JV

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    Charles Randall

    Shell Global Solution wins tender for feasibility study on oil refinery in China MOSCOW. Apr 1, 2008 (Interfax) – Shell Global Solution has won a tender
    to carry out a feasibility study for the oil refinery building project
    in China as part of
    the joint venture set up by Russia’s Rosneft and
    China’s PetroChina (a CNPC unit),
    a source in the Russian company told
    the Oil News Agency.
    Total investment into the factory with an annual capacity of 10
    million tons is estimated at $3-4 billion, he said.
    In late October 2007 PetroChina (51%) and Rosneft (49%) set up a
    joint venture, the Russian-Chinese Eastern Petrochemical Company, which
    is based in China.
    Apart from the refinery the joint venture is expected
    to own around 300 gas stations in China. The oil refinery will be built
    in the Lingang industrial zone in northern part of the centrally
    administered town of Tianjin
    that was announced by the government as the
    national base for developing China’s oil industry. The oil refinery
    could be commissioned in 2011.
    The factory will manufacture high-quality fuels compliant with
    international standards, such as gasoline and diesel under Euro-4
    Standard, to satisfy the fuel needs for the northern Chinese provinces
    which are expected to experience its substantial deficit. According to
    the forecast, by 2020 the deficit in petroleum products in this region
    will be 20.76 million tons.

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