Hong Kong: According to Shanghai Securities News China's National Development and Reform Commission has given the green light for China National Offshore Oil Corp to develop a giant oil terminal in Huizhou alongside a brand new refinery it will inaugurate before year end.
A VLCC berth capable of handling 18m tonnes a year as well as a work berth with supporting facilities will also be built, as well four 5,000-dwt and one 30,000-dwt products berths, with a combined capacity of 7.4m tonnes a year. CNOOC is also planning an oil coke berth of 20,000 dwt with annual capacity of 2m a year. The project will cost about CNY 1.06bn ($155.59m).
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