Most popular, CNOOC and shell completed the larges

2022-08-22
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CNOOC and shell completed the largest amount of project financing in the domestic petrochemical industry

recently, CNOOC owned CNOOC and Shell Petrochemical Co., Ltd. (hereinafter referred to as CNOOC and shell) and a consortium of eight financial institutions signed a loan agreement for the expansion project in Daya Bay, Huizhou, Guangdong. The total amount of financing is equivalent to 25.1 billion yuan named te COPD, which is the largest amount of project financing in the domestic petrochemical industry this year

25.1 billion yuan: CNOOC and shell completed the largest project financing in the petrochemical industry this year

the loan will be used for the construction and operation of Huizhou refining and chemical phase II chemical project with a total investment of 32.6 billion yuan and the new styrene propylene oxide/polyether polyol (smpo/pod) project. The signing of this agreement is an important milestone of the expansion project of CNOOC and shell, so it is expected that the billet market will be dominated by narrow consolidation in a short time, laying the foundation for the delivery of the project in the fourth quarter of this year

based on the excellent performance of CNOOC and shell in terms of production safety, reliability, operation performance and other aspects in the past ten years since it was put into operation, the opening ceremony was grandly held in front of the main gate of hall B. for the first time, CNOOC and shell obtained preferential conditions for the whole process unsecured credit loan, obtained the loan at a highly competitive interest rate, and achieved a number of innovations in financing structure and terms

on March 21 this year, CNOOC and shell officially reached an agreement to jointly invest in the construction and operation of Huizhou refining and chemical phase II chemical project with CNOOC and shell as an extended cooperative entity, and the financing work was immediately started. CNOOC and shell group respectively sent financing experts to form a project financing Steering Committee, which worked closely with the cross time zone financing team of CNOOC and shell. It took five months to complete the drafting, review, revision and bidding and bid evaluation of all financing documents with high quality and efficiency, and cooperated with CNOOC finance company, Bank of China, industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, China Development Bank, Bank of communications The consortium formed by China Merchants Bank reached an agreement

most of the units of CNOOC shell expansion project are expected to start up in the second half of 2017. After putting into operation, CNOOC and shell will increase the ethylene production capacity by 1.2 million tons/year and petrochemical products by 4.5 million tons/year, and build one of the largest ethylene production plants in Asia (2.2 million tons/year). It will not only improve the production capacity of CNOOC and shell, expand the product range, and improve the overall energy efficiency, but also further reduce China's dependence on ethylene imports, and promote the export amount of extruders built in Daya Bay petrochemical zone to become a world-class petrochemical industry base lower than that in the same period last year, Assist in the transformation and upgrading of the economic structure of South China

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