China Petrochemical Corp., known as Sinopec Group, plans to invest CNY53 billion ($8.41 billion) in Xinjiang province by 2015 to boost production of crude oil, natural gas and refining capacity, Xinjiang news agency Tianshannet reported, without citing sources.
China Petrochemical Corp., known as Sinopec Group, plans to invest CNY53
billion ($8.41 billion) in Xinjiang province by 2015 to boost production of
crude oil, natural gas and refining capacity, Xinjiang news agency Tianshannet
reported, without citing sources.
Sinopec wants to boost capacity at its Tahe refinery to more than 10 million
metric tons a year, or about 200,000 barrels a day, Tianshannet said Friday. The
refinery processed just 4.25 million tons of crude in 2011, it said.
Meanwhile, Sinopec plans to build seven more storage sites to add to the
existing three currently operating in Xinjiang, the report said, without
elaborating on the size of the storage.
By 2015, Sinopec also hopes to produce between 9 million and 11 million tons of
crude and between 1.8 billion and 3 billion cubic meters of natural gas in
Xinjiang, the report said. In 2011, it produced 7.25 million tons of crude and
1.59 billion cubic meters of natural gas.
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