Kuwait to Develop a Refining/Petrochemical Complex in China in Association with Sinopec, Shell and Dow

摘要

On the occasion of his visit to China, the Kuwaiti Oil Minister, Sheikh Ahmad al-Abdallah al-Sabah, signed a memorandum of understanding (MOU) on 11 May for the development of a refining and petrochemical complex in the Chinese province of Guangdong. The project is expected to cost $9 billion, according to the official Kuwait News Agency (Kuna), and is to be undertaken by a joint venture between Sinopec (50%), Kuwait Petroleum International (KPI -30%), Royal Dutch Shell (10%) and The Dow Chemical Company (10%). The complex is scheduled to enter production in 2013. The refinery will have a capacity of 300,000 b/d and process entirely Kuwaiti crude. The complex will also include a 1-million ton/year ethylene cracker.