Posted on 26 Jun 2008
PetroChina (SSX:601857, SEHK:0857, NYSE:PTR), said on
Tuesday it signed a letter of intent with Qatar Petroleum International (QPI)
and Shell (China) Ltd. to assess the feasibility of setting up a refinery and
petrochemical complex in China.
PetroChina is to control 51 per cent of the venture, while
QPI and Shell would each take a 24.5 per cent stake in the new complex, which
is expected to be a world-class producer of refined fuels and petrochemicals.
No further details were available about the deal, although
there have previously been media reports that the complex might be located in
the southern
