China Petrochemical Corp. (Sinopec) said it has reached a cooperation framework agreement with Petroleum Oil & Gas Corp. of South Africa (PetroSA) “which enabled the companies to move forward the world-scale Mthombo crude oil refinery project in Port Elizabeth’s Coega Industrial Development Zone.”
Sinopec said the companies agreed to integrate Industrial Development Corp. of South Africa into the next phase of development.
PetroSA originally scheduled a final investment decision for the 400,000-b/d refinery it envisions for 2010 (OGJ Online, Dec. 8, 2008).
It signed a memorandum of understanding with Sinopec in September 2011 to study cooperating on development of the project.
