China National Petroleum Corp and French oil major Total are in talks to transfer a stake in a joint venture oil refinery in the northeast port city of Dalian.
Wang Dongjin, president of CNPC’s listed unit PetroChina, met with a Total vice-president in Beijing and discussed “domestic and overseas upstream projects and a stake transfer in the Wepec refinery”, CNPC said on its website.
Total holds one of the most diverse investments of the foreign oil majors in China, including a 22.4 per cent stake in the West Pacific Petrochemical Corp, or Wepec, refinery, set up in the 1990s to export gasoline.
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