CNOOC, Shell JV sign $5.6B Ethylene Plant Expansion Deal in China

CNOOC and Shell Petrochemicals Company Ltd (CSPC), a joint venture established by China National Offshore Oil Corp(CNOOC) and Royal Dutch Shell (RYDAF), signed a framework agreement worth $5.6 billion with China's Huizhou city government to expand its ethylene project in the city.

CSPC is expected to add 1.5 million tonnes per annum ethylene production capacity on top of its existed 2.2 million tonnes in Huizhou, according to a statement issued by CNOOC on Sunday night
The new project will have 14 petrochemical production lines to churn out products including ethylene, propylene, butadiene and ethylene glycol 

(Reporting by Muyu Xu and Shivani Singh; Editing by Kim Coghill)