Advance negotiations to build Nanhai refinery

abarrelfull wrote on 25 Apr 2012 06:06
Tags: asia china pdvsa petrochina refinery

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Was successfully held on 3rd. Steering Committee for the construction of the Nanhai refinery in China, where the Vice President of Refining Marketing and Supply of PDVSA, Asdrubal Chavez, and technical staff of Petrochina, continued the discussion of bargaining agreements that will build the refinery Nanhai and refurbish and complement the economic relations between China and Venezuela.

"China has become for us an important source of funding that is paid for by our oil supply, but also an invaluable source of technology that we have incorporated in Venezuelan production sectors, such as the agricultural, industrial, pharmaceutical and infrastructure. With regard to telecommunications, we are working to launch the second satellite with the Chinese and the institute have already made space, "said Asdrubal Chavez.

The agreement includes the construction of three new refineries in China. Currently in the planning of these international oil infrastructure projects, is scheduled execution of a first major refining center in the city of Yang Jie. The Nanhai refinery will have a processing capacity of 400 thousand barrels per day (bpd) and is expected to begin operations in 2015. It will cost about 8 billion 300 million dollars.

The overall refining capacity of 800 thousand barrels: it starts with 400 thousand B / D refinery in Nanhai, 200 bpd refinery in Weihai, dated starting in 2016 and finally 200 MBD refinery in Shanghai, begin operations in 2019.

This business expansion megaproject Venezuelan refining reliable Venezuela opens doors to conquer the Asian market and guarantees a major oil installation at the international level, thanks to this unprecedented alliance promoted by the Bolivarian government.

Refining plant in Nanhai, PDVSA will have 40 percent ownership and 60 percent of PetroChina, in order to send Venezuelan crude from the Orinoco Oil Belt to China for refining and supply high quality products.

Vice President of Refining, Marketing and Supply of PDVSA, Asdrubal Chavez, also recalled that the energy relationship began between 2004 and 2005 when only 20 were sent to China MBD, at present, are supplied to China nearly 500 barrels of oil.

These agreements allow funding for energy development projects in Venezuela, through the Chinese-Venezuelan Fund. These funds join the economy about 32 billion dollars to more than 200 projects in different areas of the Venezuelan productive sectors.

• Advance negotiations to build Nanhai refinery

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