Source link : https://capital-cities.info/2025/07/08/africa/algeria/chinas-cnooc-to-launch-massive-refinery-expansion-after-2-7-billion-upgrade/
China National Offshore Oil Corporation (CNOOC) is set to embark on a significant expansion of its refinery operations following a substantial investment of $2.7 billion, according to sources familiar with the matter. This development marks a bold step for CNOOC as it seeks to elevate its processing capacity amid a rapidly changing energy landscape. The planned upgrades come at a time when global demand for refined petroleum products is on the rise, and industry players are aiming to enhance their competitiveness. As CNOOC prepares to launch this ambitious project, industry analysts are keenly observing how this expansion will impact the company’s market position as well as the broader Chinese refining sector.
CNOOC Accelerates Growth Amidst $2.7 Billion Refinery Overhaul
China National Offshore Oil Corporation (CNOOC) is set to embark on a significant refinery expansion following a substantial $2.7 billion upgrade project. This strategic move is designed to bolster the company’s refining capabilities and production efficiency, establishing CNOOC as a major player in the competitive global oil market. The agreement not only demonstrates CNOOC’s commitment to progress but also highlights China’s broader ambition to enhance its energy security by upgrading domestic refining infrastructure.
The planned enhancement focuses on several key areas, including:
- Increased Processing Capacity: The update aims to improve the refinery’s throughput, enabling the processing…
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Author : Olivia Williams
Publish date : 2025-07-08 07:10:00
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