Rosneft OJSC and Chinese corporation Sinopec to construct 20 mln-ton oil refinery
China Petrochemical Corp. (Sinopec) received an offer from Rosneft OJSC to construct anoil refinery in Russia (NPZ) that would refine up to 20 million tons of oil annually. Su Shulin, President of Sinopec, announced on the matter after a general meeting of shareholders, Finmarket informed
In relation to the aforementioned it was decided Sinopec would send a working group to the RF to estimate the project advisability.
It was as well informed Rosneft OJSC signed an agreement on NPZ construction in ChinaTianjin with Chinese National Petroleum Corporation (CNPC) this week. The works are expected to commence in 2010. The overall project cast may amount to $ 3 billion. Construction of 300-500 fuel stations in Chinese territory is also stipulated in the agreement.
It is suffice to mention that Rosneft OJSC is planning to construct NPZ in Primorskii Krai. The NPZ capacity will be 20 million tons of oil annually. The refinery will be constructed in the end point of the Siberia-Pacific pipeline – the Pacific Ocean (VSTO). The exact place of refinery location is not defined yet. It was earlier assumed the enterprise would be constructed in the Cape of Elizarov territory, 3-4 km away from the future port of shipment under VSTO in Kosmino Bay. The estimated cost of construction was earlier evaluated as $5-7 billion. As per the latest information, the Board of Directors of Rosneft NK will consider the feasibility study of oil refinery construction in Primorsk in October, 2009. territory, in