CNOOC, Shell JV sign $5.6-B agreement to expand ethylene plant in China

(Reuters) CNOOC and Shell Petrochemicals Company Ltd (CSPC), a joint venture established by China National Offshore Oil Corp (CNOOC) and Royal Dutch Shell, signed a framework agreement worth $5.6-B with China’s Huizhou city government to expand its ethylene project in the city.

CSPC is expected to add 1.5 million tons per annum ethylene production capacity on top of its existed 2.2 million tons in Huizhou, according to a statement issued by CNOOC on Sunday night.

The new project will have 14 petrochemical production lines to churn out products including ethylene, propylene, butadiene and ethylene glycol.

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