Refinery to be expanded

China National Offshore Oil Corp (CNOOC), the country's third largest oil producer, plans to invest 45 billion yuan to expand its new Huizhou oil refinery project in the southern Guangdong province, which is expected to come onstream this October.

The company signed a frame contract for the project on Aug 26 in Shenzhen, under which it will be expected to boost the capacity of the refinery to 22 million tons per year from the present 12 million during the 12th Five-Year Plan period (2011-15), the local media reported yesterday.