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Negotiations between Sinochem and Formosa on crude processing deal.(Investment)(Brief Article)
China Chemical Reporter
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January 26, 2004
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COPYRIGHT 2004 China National Chemical Information Center. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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Sinochem Corp. and Formosa Petrochemical Corp. were negotiating a contract. According to the contract, Formosa Petrochemical Corp. will process 2 million barrels of crude oil for Sinochem Corp.
The crude processing amount, which Sinochem Corp. will provide for the third party will be decided on the basis of the domestic market. The crude processing amount for Formosa Petrochemical Corp. itself for this year is fixed to be on a parity with the year of 2003.
In early days of 2003, the two companies signed a contract, arranging 2 million tons of crude oil to be ...
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