Shell, Cnooc Parent in Talks on Refinery Deal, China Daily Says
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Royal Dutch Shell Plc is in discussions with China National Offshore Oil Corp. to participate in the second phase of the Huizhou refining project, the official China Daily reported.
A chemicals venture by Shell and China National Offshore is keen to join in the refining project in southern China, the newspaper reported, citing Zhu Mingcai, deputy chief executive officer of the venture. The second phase of the plant will require more than 50 billion yuan ($7.5 billion) of investment, China Daily said, citing unidentified company officials.