Photo courtesy of ChemChina
China National Chemical Corporation Chairman Ren Jianxin and Rosneft CEO Igor Sechin have signed Heads of Agreement to cooperate in developing a feasibility study of the Far Eastern PetrochemicalCompany (FEPCO) project on 25th June, 2016.
FEPCO, one of the largest industrial complexes in Russia, will help substitute exported feedstock with high added value products. According to the HoA, the two parties will jointly do the Feasibility Study of FEPCOproject. This signed HoA marks the latest step in the strategic partnership of ChemChina and Rosneft.
As part of the strategic partnership, ChemChina and Rosneft have extended their one-year crude supply contract.