Petrochem projects planned

China's top offshore oil producer is strengthening its foothold in downstream businesses by planning several gigantic heavy oil petrochemical projects in Guangdong Province.

These include a 3 million ton asphaltum project and a 600,000 ton lubricant plant in Zhanjiang of Guangdong Province, Liu Junshan, a senior press official with China National Offshore Oil Corporation (CNOOC), told China Daily yesterday.

Since the details are still being worked out, Liu was tight-lipped on investment figures. But he said the projects will use heavy oil as raw material.