The Chinese company Sinopec Engineering Inc. (SEI), a subsidiary of
Sinopec Group, is launching an oil refinery in Aqak (Iran), Reuters
reports.
SEI launched a hydro-processing facility on August 15, www.sei.com.cn says.
The refinery produces the petrol Iran needs.
Sinopec has been silent about operating in Iran, due to international
economic sanctions. China signed a contract worth $2 billion for
development of the oil field of Yadavaran in 2007.
Sinopec Corp buys over 0.5 million barrels of oil from Iran daily. A
contract was signed in January to import condensate from Iran. The
contract on ultralight oil from South Pars is worth $3 billion
annually. The contract is part of the agreement on construction of
refineries in Iran’s Arak, Isfahan and Abadan provinces.
