CNOOC and Shell Petrochemicals Company Limited, a joint venture between China National Offshore Oil Corporation (CNOOC) and Shell, announced an investment of 60 billion yuan (R$49.8 billion) in two major projects in the city of Huizhou, Guangdong Province.
The investment includes the Phase III Ethylene Project, with an annual capacity of 1.6 million tons, and the Polycarbonate Project, which will use Shell’s proprietary technology. Large-scale construction has already begun.
The Ethylene Project, scheduled to be completed in 2028, will have 16 production units and aims to reduce carbon dioxide emissions by 20% through energy optimization and the use of renewable energy.
The Polycarbonate Project, expected to be completed in 2026, will produce 320,000 tonnes of high-performance chemicals annually, serving sectors such as transport, construction and healthcare.
Founded in 2000, the CNOOC-Shell joint venture is one of the largest in the petrochemical sector in China and houses the largest ethylene complex operating in a single location. These investments demonstrate confidence in the Chinese market and reinforce the commitment to sustainability and technological innovation.
Source: https://www.chinahoje.net/joint-venture-cnooc-shell-investe-r-50-bilhoes-em-projetos-petroquimicos-na-china/
