Shell: To Break Ground for $100 Million Lubricant Plant in Northern China Thursday

Πηγή: Fox Business
By Dow Jones Newswires
August 14 2012

Royal Dutch Shell PLC (RDSA.LN) will break ground for a $100 million lubricant blending plant in northern China on Thursday, Mark Gainsborough, Shell executive vice president of Global Commercial Business, said Tuesday.

Located in the city of Tianjin, the world-scale plant will start commercial production in early 2015 and produce 300,000 metric tons of lubricants annually, Mr. Gainsborough said in a media briefing in Beijing.

The plant is planned to suit growing demand for lubricants in Asia, especially in China, Mr. Gainsborough said.

It will be the company's seventh lubricant plant in China.

Editor's note:

Shell announced on 25 of July that it has signed two offshore oil and gas Production Sharing Contracts (PSCs) with CNOOC, and a PSC amendment with CNPC for a new development phase for the Changbei gas field in China. Shell has also entered an agreement with CNOOC for its participation in two Shell exploration blocks offshore Gabon, West Africa.