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20

Shell Joins A Rosneft-CNPC JV

Interfax news agency reported on Tuesday that Royal Dutch Shell would join a Chinese joint venture between the country's state oil first-rating and Russian oil giant Rosneft

Interfax news agency reported on Tuesday that Royal Dutch Shell would join a Chinese joint venture between the country's state oil first-rating and Russian oil giant Rosneft.

Shell has gained a tender to conduct a feasibility study for the oil refinery building project in China.

October last year Asia's top oil and gas firm, China's PetroChina, a subsidiary of China National Petroleum Corp (CNPC), established its plans for the joint venture with Rosneft.

The venture will build 300 petrol stations in northern China along with the refinery, which is expected to go on line in 2011 and has an annual capacity of 10 million tonnes.

Neither Shell nor Rosneft commented this event.