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Petrochina Finishes First Stage of New Refinery

PetroChina has finished the first stage of work on a new refinery in the southern Guangxi region

China's top oil and gas firm PetroChina has finished the first stage of work on a new refinery in the southern Guangxi region.

The ground has been levelled and basic foundations laid at the site in the port city of Qinzhou, where total investment will top $2.20 billion, the paper quoted design and construction manager Qian Keqiang saying.

Refined product output will be 6.7 million tonnes a year, and the plant will also produce petrochemicals including propylene.

It will supply the province and surrounding regions including Yunnan, Guizhou and Sichuan, which currently struggle to ship in enough oil to meet annual demand growth of about 10 per cent, the report added.