At the end of April 2012, a 60:40 joint venture between China National Petroleum Corporation (Petrochina, Beijing / China; www.petrochina.com.cn/ptr) and Petróleos de Venezuela (PDVSA, Caracas / Venezuela; www.pdvsa.com) started construction of a new refinery in the southern Chinese district of Huilai, Guangdong province. The USD 9 bn mega-project is expected to begin operations in 2014 or 2015, news media report, citing the authorities. The refinery reportedly will include two ethylene crackers, with capacity of 1m t/y each.

The complex will strengthen CNPC’s existing foothold in southern China, after having started up another refinery in Guangxi in late 2010. The Chinese state-owned oil and petrochemical group is also mulling a 1.2m t/y ethylene complex in Taizhou, Zhejiang province, with partners Qatar Petroleum (Qapco, Mesaieed / Qatar; www.qapco.com) and Shell China (HQ: London / UK; www.shell.com) – see Plasteurope.com of 31.01.2012.