Shell-CNOOC JV receives government approvals to take over new petrochemical complex in China
2016-11-02
Beijing, China -- Shell Nanhai B.V. (Shell) and China National Offshore Oil Corporation’s (CNOOC) 50:50 joint venture has officially assumed ownership of CNOOC’s ongoing project to build an ethylene cracker and several derivatives units, after receiving all the necessary government approvals. Following a final investment decision in March 2016, the project will now be owned and operated by the existing joint venture, CNOOC and Shell Petrochemicals Company Limited (CSPC).