Delayed Chinese Refinery Brings French Co. Total On Board

Law360, New York (March 13, 2012, 4:08 PM EDT) -- France-based Total SA on Tuesday signed onto a long-delayed oil refinery under construction in southeastern China, joining a partnership between China’s and Kuwait’s state-owned petroleum companies.

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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