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Shell 'targets Chinese refinery'


Shell 'targets Chinese refinery'


Royal Dutch Shell is reportedly in talks with

China National Offshore Oil Corporation about buying a 30 percent stake in the planned expansion of Huizhou refinery.

The 5.8 billion euro plant could be up and running in three years time.

Shell is reducing its involvement in refining in Europe selling plants in Britain and Germany but wants greater exposure to China, where demand is set to rise.

The Chinese government was expected to approve the CNOOC refinery project in the first half of this year, according to the report in the newspaper China Daily quoting Dong Xiaoli, general manager of the Huizhou refinery.

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