CNOOC Starts Huizhou Refinery
A new refinery was put into operation yesterday (June 18th) in Huizhou by The China National Offshore Oil Corporation (CNOOC), one of the largest state-owned oil giants in China. Top provincial party and government officials attended the inauguration ceremony in Daya Bay Economic Development Zone. "The secretary of Guangdong's CPC Committee, Mr. Wang Yang, announced the launch of the project, which is designed to produce 12 million tons of oil annually."

In addition, Guangdong signed an agreement with the CNOOC to establish a strategic partnership. The oil refiner has accepted to invest 54 billion yuan more into a petrochemical project again in Huizhou. The aim is to build Huizhou into a world-class petrochemical production center, rivaling Houston and Rotterdam within the next 10 years.
The CNOOC General Manager, Mr. Fu Yucheng, said the company will increase investment into the exploration of new natural gas fields and the construction of a pipeline network for natural gas: "we will be able to provide 10 million tons of liquefied natural gas to Guangdong every year. We will build 3200 kilometers of pipelines to form a large-scale network. It will play a key role in Guangdong's energy structure adjustment and Guangdong's approach to green energy."