Guangdong Province plans to kick off the construction of three large refineries this year, the Wall Street Journal reported, citing the Guangdong Provincial Government as saying on Saturday.
The local government said in a statement that the three projects consist of two refinery ventures. A joint venture will be built by China Petroleum & Chemical Corp and Kuwait Petroleum Corp, and the other one will be established by PetroChina Co Ltd and Petroleos de Venezuela SA.
The third project is the expansion work of China National Offshore Oil Corp's existing refinery, according to the report.
In January this year, the import and export value of Guangdong Province rose 51.7% year on year to US$74.17 billion, and the figure increased 28.4% year on year to US$784.66 billion last year, according to an earlier report from China Knowledge.
