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Article: China : BP and Kuwait Petroleum eyeing Chinese refinery JV.
- Article from:
- TendersInfo
- Article date:
- October 3, 2009
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AP reported that oil giant BP PLC is interested in teaming up with Kuwait in a planned USD 9 billion JV refinery project in southern China.
Mr Hussein Ismail president of the state owned Kuwait Petroleum International said that preliminary talks with the British oil giant have begun and that BP was evaluating the 300,000 barrel per day facility's site in southern China's Guangdong province.
He said that KPI will co owns the plant with China Petroleum & Chemical Corporation Kuwait will retain a 30% stake while the Chinese refinery also known as Sinopec will hold a 50% interest.
Mr Sheik Ahmed Al Abdullah Al Sabah oil minister of Kuwait said that ...