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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