PetroChina International have signed a strategic alliance agreement confirming the building of the largest oil terminal in South China on Xiaohu Island, Guangdong Province.
The oil terminal is expected to come online this year, and consisting of a refined oil reservoir with a storage capacity of 765,000 m3 and a wharf with a loading capacity of 80,000 tonnes.
On the same island, China Petroleum Transportation, a subsidiary of the China National Petroleum Corporation, will launch a petrochemical logistics hub costing CNY 350 million (36 million) and reaping CNY 350 million in annual operating revenue. The hub will load and unload about 500,000 tonnes of refined oil per month.
