Oil and Petrochem Sector Becomes Focus of Foreign Investment

摘要

Foreign investment sees a new growth in China's petroleum and petrochemical sector in 2004. It totaled between US$4 billion and US45 billion in 2003. Currently, the big-name oil and petrochemical multinationals expand their business in China. The total investment in China from ExxonMobil, BP, Shell, Total, Dupont and Bayer exceed US$10 billion in aggregation. BP ranks first for among the foreign oil companies for the investment in China while BASF ranks first among the foreign petrochemical firms. BASF, a world leader in chemical industry, recently announced its plans to invest US$30 million to build a new chemical plant in the Shanghai Chemical Industry Park in Eastern China's Shanghai Municipality. The construction of the plant, with an annual capacity of about 8,000 metric tons, is to begin in mid-2005.