New Refining Ability Comes Online for PetroChina - trackseekingalpha

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New Refining Ability Comes Online for PetroChina
Sep 22, 2009 09:38 PM UTC

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Via Long Investment Ideas from Seeking Alpha:

China’s largest integrated oil company, PetroChina Company Ltd. (PTR), has started operations at the $4 billion Dushanzi refining and chemical complex in the Xinjiang province. The complex consists of a refinery and an ethylene plant, with a capacity of 10 million ton and 1 million ton a year, respectively.

The refinery, which processes high-sulfur crude oil, will increase the company’s total refining capacity of 2.58 million barrels per day (as of 2008). The company estimates that the project may generate approximately $8.8 billion in annual revenue.

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