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Qatar Petroleum, Shell, and PetroChina Sign Agreement for Refinery and Petchems Complex in China

5:05 AM MDT | June 24, 2008 | Natasha Alperowicz

Qatar Petroleum International (QPI; Doha), Shell China, and PetroChina say they have signed a letter of intent (LOI) to "commence joint preliminary studies to assess the viability of building a refinery and petrochemicals manufacturing complex" in China and of marketing the complex's products in the domestic market. PetroChina will have a 51% stake, and QPI and Shell will each hold 24.5% in the joint venture. The companies have not revealed the likely location or the expected investment costs. The LOI was signed by Abdulla Bin Hamad Al Attiyah, Qatar's...

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