www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

Total in talks with PetroChina to sell China refinery stake

(Agencies) Updated: 2014-07-03 15:05

Total in talks with PetroChina to sell China refinery stake

French oil giant Total headquarters in the western Paris suburb of La Defense, France, August 1, 2010. [Photo/IC]

France's Total is in talks with PetroChina to sell its stake in a Chinese refinery after nearly two decades of investment, in what could be the latest foreign energy firm giving up on a vast but tightly regulated oil market in China.

Early this year, sources said BP was dropping plans to invest in another PetroChina refinery in South China, mirroring the moves of several other projects that worried about a slowdown in growth in the world's second-largest economy.

Total in talks with PetroChina to sell China refinery stake
 PetroChina to sell pipeline business to accelerate mixed-ownership

Total in talks with PetroChina to sell China refinery stake
PetroChina gets stake in Exxon Mobil field 

Total was the first foreign firm to get a toehold in China's refining business, as an investor in the 200,000 barrels-per-day West Pacific Petrochemical Corp (WEPEC) in the northeastern port city of Dalian in the mid-1990s. The plant was then designated as the country's first and only export-oriented refinery.

The French firm owns 22.4 percent of the plant which started operations in 1996. It's jointly owned by State-run Sinochem Corp and firms backed by the Dalian city government, but PetroChina manages and operates it.

Industry officials familiar with WEPEC's operations said the French firm has decided to divest the refinery stake due to years of losses the plant incurred, and also due to lack of access to the local Chinese market.

"Exports of most of WEPEC's fuel are making losses, due to heavy taxes levied," said an industry official with direct knowledge of WEPEC's fuel marketing.

"Now it's time to revamp the plant as facilities are old, to produce cleaner fuels. And that requires new investment from investors, I believe the French could not stand it any more," the industry official said.

A Total spokesman in China was not immediately available for comment.

PetroChina has held talks with Total on the potential purchase of the latter's stake in WEPEC, PetroChina's parent company China National Petroleum Corp (CNPC) said on Wednesday.

PetroChina President Wang Dongjin met a Total vice-president on Tuesday, CNPC said on its website (news.cnpc.com.cn).

"Both sides exchanged views on domestic and overseas upstream projects and a stake transfer in the WEPEC refinery," it said.

 

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 99免费在线观看视频 | 毛片韩国| 国产麻豆入在线观看 | 国产一国产一级毛片视频在线 | 在线视频观看一区 | 在线观看a网站 | 性色tv | 日韩欧美一级 | 国产一区二区三区在线观看视频 | 一级毛片情侣 | japanesetubesexfree| 男人的天堂欧美精品色偷偷 | 亚洲成人视 | 在线高清国产 | 欧美高清在线视频一区二区 | 亚洲精品乱无伦码 | 成人男男黄网色视频免费 | 精品久久久久不卡无毒 | 久久一日本道色综合久 | 最新国产三级久久 | 日韩专区欧美 | 日韩激情无码免费毛片 | 免费特黄一级欧美大片在线看 | 国产成人免费片在线视频观看 | 日韩久久中文字幕 | 国产三级日产三级日本三级 | 在线视频亚洲欧美 | 欧美日韩在线第一页 | 国内精品久久久久久中文字幕 | 香港三级日本三级人妇三级四 | 日本一区二区三区高清在线观看 | 久久久网站亚洲第一 | 怡红院视频在线 | 真人一级毛片免费完整视 | 好吊妞998视频免费观看在线 | 久久精品2020 | 91久久免费视频 | 国产一国产一级毛片视频在线 | 精品国产一区二区二三区在线观看 | 奇米四色综合久久天天爱 | 国产成人综合久久精品红 |