[December 28, 2005] Kuwait Expects to Build Oil Venture with PetroChina in China Tweet (SinoCast)GUANGDONG, Dec 28, 2005 (SinoCast via COMTEX) --Kuwait expects to strike a final agreement on building an oil refining and petrochemical venture in partnership with PetroChina Co., Ltd. before March of 2006. The oil refinery under planning, with an estimated investment of USD 3-4 billion, will be set up in China's Guangdong Province, and it will be capable of refining 300,000 to 350,000 barrels of crude oil per day, said Kuwait Oil Minister Sheikh Ahmad Al Fahad Al Sabah. Meanwhile, Kuwait is seeking opportunities to participate in the second similar project in China, which is reported to be about establishing an oil refining and petrochemical plant. Kuwait, the world's fourth largest country by oil reserves, has received a letter of intent on the second project, sources said. From dycj.ynet.com, Page 1, Tuesday, December 27, 2005 [email protected] [ Back To TMCnet.com's Homepage ]