According to the President of British Petroleum (BP), China, Mr Chen Liming, the company is currently into parleys with potential partners to set up a large joint venture refinery in China.
He said, at this juncture, it is uncertain as to who will be the joint venture partner, but the potential partner will have to meet three conditions; firstly, the new refinery will complement existing assets of BP in China, such as its ethylene JV project with Sinopec.
Secondly, the full output will be sold in domestic markets and thirdly the resources of both partners will be well linked up. Setting up of this refinery is expected to improve the existing businesses of BP in China.
Fibre2fashion News Desk - India
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