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在线翻译:
szdaily -> Business
CEFC, Rosneft mull Hainan petrochemical complex
    2017-November-13  08:53    Shenzhen Daily

PRIVATE conglomerate CEFC China Energy and Russia’s largest oil producer Rosneft have agreed to study the possibility of building a petrochemical complex in South China, Rosneft said Friday.

The deal will deepen strategic cooperation between Rosneft and CEFC, which agreed in September to buy 14.2 percent of the Kremlin’s energy champion in a deal valued at over US$9 billion.

Rosneft and CEFC signed an agreement to carry out a joint preliminary study into the possible construction of a petrochemical plant in Hainan Province on the sidelines of a summit of Asia-Pacific Economic Cooperation (APEC) leaders in Vietnam, the Russian company said.

“The companies will set up joint working teams to discuss technical configurations of the project as well as commercial and economic matters,” Rosneft said in a statement.

The companies will also jointly analyze the long-term supply of feedstock for the proposed new plant, it said.

The companies had agreed to build a petrochemical complex using liquefied petroleum gas and condensate to make petrochemicals, China Business Network reported Friday, quoting a CEFC executive.

The complex would be built in Yangpu, a port in Hainan, China Business Network reported.

“Once a feedstock supplier joins the investment of the petrochemical facility ... the supply chain will be strengthened further and shall benefit the project’s profitability,” Cai Feng, an investment official of CEFC was quoted as saying.

A senior company source at CEFC said part of the feedstock supply may come from Abu Dhabi National Oil Co.

(SD-Agencies)

 

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