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FINANCIAL NEWS
Kuwait KPC, China Sinopec begin constructing USD9.3b refining project
20 Nov 2011
(MENAFN) China Petroleum & Chemical Corp (Sinopec) said that the company along with Kuwait Petroleum Corp. began constructing a USD9.3 million joint refining and petrochemical project in the province of Guangdong, southern China, reported Arab News.
The firm added that the complex, which would complete in 2015, would include a refinery, with an output capacity of 300,000 barrels per day (bpd), in addition to cracking unit with an output capacity of 1 million ton per year.
It also said that the project would guarantee Kuwait a steady outlet for its oil as it the country planned to increase its crude exports to China by more than a double reaching 500,000 bpd.
It is worth noting that in March, China’s National Development and Reform Commission gave its approval for the project.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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