TIANJIN, China - China National Offshore Oil Corporation (CNOOC), parent of CNOOC Ltd (0883.HK: Quote, Profile, Research, Stock Buzz), has delayed the start-up of its first major refinery to 2009, General Manager Fu Chengyu said on Saturday.
"We will complete infrastructure construction this year and produce oil products next year," Fu said on the sidelines of a World Economic Forum conference in the coastal city of Tianjin.
CNOOC had initially planned to start operations at the 240,000 barrels per day Huizhou plant in September, but bad weather had already pushed the date back to November.
Fu did not provide an explanation for the latest delay.
Some of the crude oil to be processed at the refinery will be sourced from CNOOC Ltd's oil fields in the Bohai Sea off northern China.
CNOOC, China's top offshore oil company, plans to expand the crude processing capacity of the Huizhou refinery to 440,000 bpd and add an ethylene unit with annual capacity of 1 million tonnes during 2011-2015.
"We will complete infrastructure construction this year and produce oil products next year," Fu said on the sidelines of a World Economic Forum conference in the coastal city of Tianjin.
CNOOC had initially planned to start operations at the 240,000 barrels per day Huizhou plant in September, but bad weather had already pushed the date back to November.
Fu did not provide an explanation for the latest delay.
Some of the crude oil to be processed at the refinery will be sourced from CNOOC Ltd's oil fields in the Bohai Sea off northern China.
CNOOC, China's top offshore oil company, plans to expand the crude processing capacity of the Huizhou refinery to 440,000 bpd and add an ethylene unit with annual capacity of 1 million tonnes during 2011-2015.
