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18

China Oil Giant Took Over Refinery Expert

Jiang Jiemin, the vice president of CNPC, said that the takeover will help the CNPC raise its competence in oil refining and chemical production

China National Petroleum Corporation announced Tuesday that it has taken over China Huanqiu Contracting and Engineering Corporation (HQCEC).

HQCEC, a transnational engineering company, has an experience Engineering-Procurement-Construction and a shark at oil refining and chemical engineering fields.

CNPC, China?s largest oil company, has seen its refinery and chemical sector growing rapidly in recent years. Jiang Jiemin, vice president of CNPC, said that the takeover will help the CNPC raise its competence in oil refining and chemical production and develop its overseas market.