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BEIJING, Nov. 24 (UPI) -- Chinese firms are working to increase oil refining capacity in the face of rising demand.
A new Sinochem Corp. facility, in southeastern Fujian Province, is expected to be complete in 2010 and will initially have an annual refining capacity of 5 million tons of heavy oil, the Xinhua news agency reported Thursday.
The sector is currently dominated by Sinopec, China's largest oil refiner, China National Petroleum Corp. and China National Offshore Oil Corp.
Xinhua said that Sinopec has plans to expand the annual capacities of its oil refineries in Guangzhou, Maoming and Zhanjiang, all in Guangdong Province, from 26.2 million tons to 36 million tons by 2010.
Sinopec is also working with Kuwait to build a 15 million ton project that is expected to come onstream by 2010.
Separately, CNOOC began building a 12 million refinery in Huizhou, in Guangdong last December, which is expected to go into production in 2008, Xinhua reported.
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