Abu Dhabi’s International Petroleum Investment Co. (IPIC) is planning to complete construction of a 200 000 bpd oil refinery in the Fujairah emirate by the end of 2016.
The project will cost in the region of US$ 3 billion, and would be sited near the outlet of a 1.5 million bpd oil pipeline running to the coast and set to be completed this year.
Meanwhile, Kuwait Petroleum International (KPI) is expected to choose a foreign investment partner within six months for an oil refining and petrochemical joint venture with Sinopec.
China has approved the US$ 9 billion project, which will be built in the southern coastal city of Zhanjiang. The move will ensure that Kuwait has a dependable outlet for its crude. Kuwait is the world’s fourth largest crude exporter and is aiming to more than double its exports to China to 500 000 bpd.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/15032011/refineries_planned_for_china_and_fujairah/