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Article: Negotiations between Sinochem and Formosa on crude processing deal.(Investment)(Brief Article)
- Article from:
- China Chemical Reporter
- Article date:
- January 26, 2004
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Sinochem Corp. and Formosa Petrochemical Corp. were negotiating a contract. According to the contract, Formosa Petrochemical Corp. will process 2 million barrels of crude oil for Sinochem Corp.
The crude processing amount, which Sinochem Corp. will provide for the third party will be decided on the basis of the domestic market. The crude processing amount for Formosa Petrochemical Corp. itself for this year is fixed to be on a parity with the year of 2003.
In early days of 2003, the two companies signed a contract, arranging 2 million tons of crude oil to be processed for Sinochem Corp. by Formosa Petrochemical Corp. beginning from Quarter 3 in 2003 to ...