China, Iran Sign Agreement on Refining Expansion, Mehr ReportDate: Aug 03, 2009 Iran signed an agreement with China on a project costing between $2 billion and $3 billion to expand the capacity of Abadan and Persian Gulf Star oil refineries, Tehran-based Mehr News Agency reported, without citing anyone. National Iranian Oil Products Distribution Company and a group of Chinese companies will build 210,000 barrels a day of refining capacity, which will eventually reach 360,000 barrels, the report said on Aug. 1. Abadan has an existing capacity of 360,000 barrels a day, according to the Web site of National Iranian Oil Products Distribution. The expansion project will take three years to complete, Mehr said.China’s oil consumption doubled in the last decade, rising to 8 million barrels a day last year from 4.2 million barrels in 1998, according to the BP Statistical Review. China National Petroleum Corp. signed a memorandum of understanding to buy a stake in South Azadegan oil field, Shana reported on July 29. Source: Bloomberg |
China Eurasia Investment Forum 2009
Grand Millennium Hotel Beijing, China. China and Eurasia: Emergence of New Silk Road Investment and networking opportunities for investors, financiers, resources companies and service providers Inaugural China Eurasia Investment Forum aims to bring together the government officials, investors, financiers, resource companies, service... Read more
China and Eurasia Region
