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China, Kuwait Plan JV Oil Refinery

The Chinese oil giant PetroChina plans a joint venture oil refinery with Kuwait

The Chinese oil giant PetroChina plans a joint venture oil refinery with Kuwait in the Pearl River Delta area.

China, the world's largest oil consumer after the U.S., is encouraging local oil companies to expand refining capacity to meet the nation's soaring demand for energy.

China's oil consumption this year may rise 5.5 percent according to the International Energy Agency forecast April 12.

Kuwait's Oil Minister Sheikh Ahmad Fahd al-Sabah visited Guangdong and met with PetroChina officials to talk about the refinery project in December.