The CNOOC and Shell Petrochemicals Company Limited (CSPC) announced it successfully produced on-specification ethylene and propylene on 29 January, 2006, at its petrochemicals complex in Daya Bay in Huizhou, Guangdong Province, China, following the completion of start-up and commissioning activities.
The Daya Bay project is fundamental to the Shell strategic objective to grow a significant presence in China, where demand for plastics and packaging is expected to make up 30 percent of world consumption by 2010. The investment is consistent with the Shell strategy of "more upstream, profitable downstream".
Shell has a 50 percent stake in the joint venture company - the CNOOC and Shell Petrochemicals Company (CSPC) - with CNOOC Petrochemicals Investment Limited (CPIL) holding the other 50 percent.
The aim of the Shell Group is to meet the energy needs of society, in ways that are economically, socially and environmentally viable, now and in the future.
CNOOC is a Hong Kong-incorporated public company that engages primarily in the exploration, development and production of crude oil and natural gas offshore China.
Shell Petrochemicals Company Limited
marketing@alchempro.com
