CNPC and Sinopec set sights on south-west China

Jun 18, 2007 02:00 AM

CNPC and Sinopec recently poured a great amount of money into Chongqing, the sole municipality in China's southwest region and respectively signed strategic cooperation agreements with the local government, indicating that a heated competition there is around the corner.
CNPC is anxious to extend its Sino-Myanmar oil pipeline to Chongqing and establish a 100 mm tpy refinery base there, which will involve a bankroll amounting to yuan 15 bn (excluding investment in laying pipelines).

Sinopec has made it certain to establish a natural gas pipeline from its Puguang Gasfield to Chongqing, as a part of the Sichuan-to- East China Project involving total investment of yuan 62.7 bn, to annually supply Chongqing with 3 bn cm of natural gas by the end of 2010.

Source / Xinhua News Agency
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