CNOOC, Shell to expand joint capacity

CNOOC and Shell Petrochemicals Co Ltd, China’s biggest Sino-foreign partnership deal, plans to expand its current capacity by 10 to 20 per cent within the next four years, to meet surging domestic demand.

The US$4.3 billion joint project, launched in March between Royal Dutch Shell and China’s biggest offshore oil company China National Offshore Oil Corp (CNOOC), yesterday disclosed plans to further expand its capacity.