ExxonMobil announces refinery expansion approval

The Chinese government has approved a proposal to develop a multi-billion dollar refinery expansion and petrochemical complex in Fujian Province, China, said ExxonMobil Corp. officials. The venture will be a partnership between Fujian Petrochemical Co. Ltd. (FPCL), 50%; ExxonMobil, 25%; and Saudi Aramco, 25%.

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