PetroChina, Shell, and QP Sign Framework Agreement

China National Petroleum Corp. (CNPC; Beijing), the parent of PetroChina, says that CNPC, Shell, and Qatar Petroleum (QP) have signed a cooperation framework agreement with the municipal government of Taizhou, China to build jointly a previously announced integrated refinery and petrochemical complex at Taizhou. “The Taizhou project will refine imported condensate to produce ethylene and other petrochemicals,” CNPC says. “It will spur the construction of many midstream and downstream petrochemical projects, raise the local self-sufficiency rate of...

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