ExxonMobil signs MoU for Petchems in China
ExxonMobil Chemical has signed a strategic cooperation framework agreement and a memorandum of understanding (MoU) with authorities in Huizhou, China, to jointly evaluate plans for a world-scale petrochemical complex.
In addition to a refinery, the complex, which would potentially be located in the Huizhou Dayawan Economic and Technological Development Zone, would comprise a steam cracker with 1 million tonnes of annual capacity and downstream units for petrochemicals and plastics, using ExxonMobil's technology.
The oil and petrochemicals giant has not yet officially announced the project, which a spokesperson confirmed to journalists in Singapore.
Huizhou, near Hong Kong, is an important hub for petrochemicals in southern China. CNOOC-Shell Petrochemicals, a joint venture of China National Offshore Oil Corporation and the Anglo-Dutch oil multinational, operates a cracker at the site manufacturing a variety of commodity plastics and their feedstocks using Shell’s technology.
Last year, the jv announced expansion plans, including a doubling of some capacities. Several other projects involving producers are said to be on the drawing boards.