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Business
CNPC invests in chemicals
September 5, 2005
| A version of this story appeared in
Volume 83, Issue 36
China National Petroleum Corp., parent of publicly traded PetroChina, has broken ground on a refinery and petrochemical project in the northwest Chinese province of Xinjiang. With no foreign partner involved, the $3.2 billion project includes an oil refinery, a 1 million-metric-ton-per-year ethylene cracker, and downstream facilities. Separately, CNPC's Jilin Chemical unit has completed a 15,000-metric-ton methyl isobutyl ketone plant that it says will end China's long history of relying on imports. Jilin is planning a second plant for the solvent, to open in August 2006.
The power is now in your (nitrile gloved) hands
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