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China's CNPC agrees to expand Sudan refinery81 days ago
(AP:SHANGHAI) China National Petroleum Corp., the country's biggest oil and gas producer, said Friday it has signed agreements with Sudan to expand a refinery and swap oil production assets.
It will be the second round of expansion for the refinery located in Sudan's capital, Khartoum, which processes 5 million tons of oil a year and provides 80 percent of Sudan's processed crude oil, state-owned CNPC said in a statement on its Web site.
CNPC and Sudan each own half of the refinery, set up in 1997 with an initial annual processing capacity of 2.5 million tons. Under the agreement, CNPC is to swap a shareholding in Sudan's Block 6 with Malaysia's Petroliam Nasional Bhd's Block 5A, the company said.
It did not give any financial figures or other details.
CNPC, based in Beijing, also signed an agreement with Sudan's Energy and Mining Ministry to provide advance payment for crude oil shipments, it said.
The Chinese side will work with Sudan in eight upstream and downstream oil projects, including prospecting, drilling, construction, pipelines and management, the company said.
The plans are part of a 2007 initiative to expand ties with Sudan, a key source of crude oil for energy-hungry China.
"China and Sudan, both developing countries, are facing many similar tasks and challenges ahead, and share broad common interests," the official Xinhua News Agency cited senior leader Zhou Yongkang as telling Sudan's President Omar al-Bashir in Khartoum on Thursday.
Zhou termed the relationship "pragmatic cooperation." Xinhua said he also urged Sudan to fully implement a 2005 north-south peace agreement on ending the country's civil war, which is to lead to the country's first nationwide elections next year.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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