Delayed Chinese Refinery Brings French Co. Total On Board
Total will take an undisclosed stake in the project through agreements with subsidiaries of Kuwait Petroleum Corp., which first launched the 59 billion yuan ($8.9 billion) joint venture with China Petrochemical Corp., or Sinopec, in 2009.
The project will build a refinery and related infrastructure in the southeastern port city of Zhanjiang. It was, until Total’s involvement, a 50-50 partnership...
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