China Revives Plans For Huge $20B Refinery, Petrochemical Complex

China has given the go-ahead to plans for a huge $20-billion refinery and petrochemical complex in the Shandong province, the home of the country’s independent refiners, Reuters reported on Tuesday, citing two industry sources familiar with the approval process. The mega petrochemical complex has been years in the planning, but now it looks like the world’s top oil importer is looking to spend money on oil infrastructure in order to reinvigorate the economy hit by the coronavirus. China’s National Development & Reform Commission…

China has given the go-ahead to plans for a huge $20-billion refinery and petrochemical complex in the Shandong province, the home of the country’s independent refiners, Reuters reported on Tuesday, citing two industry sources familiar with the approval process. The mega petrochemical complex has been years in the planning, but now it looks like the world’s top oil importer is looking to spend money on oil infrastructure in order to reinvigorate the economy hit by the coronavirus. China’s National Development & Reform Commission…