Shell, PetroChina, Qatar Petroleum mull new China refinery
26 June 2008
Royal Dutch Shell has signed a letter of intent with PetroChina and a Qatari firm to consider building a new refinery and petrochemical complex in China, the Wall Street Journal reported. Under the potential framework, Shell and Qatar Petroleum International will each hold a 24.5% stake in the facility, with PetroChina holding 51%. The location of the possible complex has not been determined, but the paper quoted a PetroChina executive as saying in May that his company was in talks with Qatar Petroleum to build a refinery in Zhejiang province. Shell, Qatar Petroleum and PetroChina earlier this year inked a 25-year agreement to supply China with Qatari liquefied natural gas.