July 24, 2009

SABIC-Sinopec Refinery JV on Schedule

Earlier this month Beijing's all mighty National Reform and Development Commission (NDRC) gave the green light for a 50/50 joint venture between Saudi-owned SABIC and Beijing controlled Sinopec to run an expanded refinery in Tianjin. The refinery has been undergoing a multi-billion dollar expansion since 2006 and should go online in September. It includes capacity to produce 1 million tons of ethylene per year and could some day process up to 300,000 barrels of petroleum derived products per day for the greater Bohai Gulf area and north China region....

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