China-Venezuela Joint Oil Refinery Breaks Ground in Guangdong
Chinese and Venezuelan oil giants began constructing their first joint venture refinery in South China’s Guangdong province Wednesday after a decade of planning and negotiations and a subsequent delay.
Located in an industrial zone in Jieyang, the joint venture is 60% owned by China’s state-owned China National Petroleum Corp. (CNPC) and 40% held by the Petróleos de Venezuela SA (PDVSA).
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