China and Russia have agreed to locate a planned oil refinery
capable of processing 10 million tons a year in the northern port
city of Tianjin.
China's top oil firm, China National Petroleum Cooperation
(CNPC), and Russia's Rosneft, have set up a joint venture in
Tianjin to implement the project, which is still subject to
approval by the National Development and Reform Commission.
The refinery project is a concrete follow-up to the two
companies' agreement reached in March 2006 to intensify cooperation
in the oil sector.
During a recent meeting with a Rosneft delegation, Tianjin's
vice mayor Yang Dongliang promised to allocate quality land for the
project before June.
A possible site for the refinery will be the Tianjin Harbour
Industrial Park, about 80 square kilometers off the Bohai Bay east
of Beijing.
The central government has listed Tianjin as a national base for
the development of the oil industry.
(Xinhua News Agency November 24, 2007)
