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Kuwait Petroleum, Sinopec in $9B refinery joint venture in China

Green Car Congress

The Chinese government recently granted final approval for a joint venture project between Kuwait Petroleum Corporation (KPC) and China Petroleum and Chemical Corporation (Sinopec), one of the world’s largest refiners, to build a world-class refinery and petrochemical complex in south China. Earlier post.).

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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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Chinese capacity is scheduled to increase significantly this year because of the start of at least two new refinery projects and a major refinery expansion. A new 230,000 b/d refinery operated by a joint venture between state-owned-firms OQ (of Oman) and Kuwait Petroleum International is set to come online in Duqm, Oman, likely in early 2023.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Novatek and its partners Total and Chinese National Petroleum Company still lack $15 billion of the $27 billion needed to finance the Yamal LNG plant. naval power, the Chinese, for example, prefer pipeline natural gas supplies over seaborne LNG supplies. This could lead the Europeans and Chinese to search for other suppliers.

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