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Location of oil complex in 皇冠体育app not decided yet: Shell 皇冠体育app

(Xinhua)
Updated: 2009-08-07 17:19

The location of a planned refining and chemical complex, a joint project between Petro皇冠体育app, Shell 皇冠体育app Exploration and Production Ltd (Shell 皇冠体育app) and Qatar Petroleum (QP) has not been decided yet, Li Lusha, spokesperson of Shell 皇冠体育app told Xinhua Friday.

Li made the comment in response to media reports saying the complex would be built in Taizhou of East 皇冠体育app's Zhejiang province.

"We are still evaluating the project's feasibility and will release any further information about it soon," Li said.

Petro皇冠体育app has submitted the project plan to the National Development and Reform Commission for approval but had not received any reply, Caijing, a leading financial magazine in 皇冠体育app, reported Wednesday, citing Zhang Qingyuan, deputy director of program planning division of refining and chemical branch of Petro皇冠体育app.

The three parties signed the investment agreement in Doha, capital of Qatar, in June 2008.

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Under the agreement, Petro皇冠体育app would hold 51 percent of the complex's total stake, while Shell 皇冠体育app and QP would get 24.5 percent each.

The planned investment on the project was 80 billion yuan ($11.71 billion), and the complex would include an oil refinery with capacity of 20 million tons annually, an ethylene unit of 1.2 million tons per year and a 300,000-DWT crude oil wharf, the 皇冠体育app Chemical Industry News reported Tuesday.

Shell's Li, however, did not confirm the size of the project or planned investment.