The board of directors of the PetroChina-Rosneft Orient Petrochemical (Tianjin) Co., a joint venture of Russia's Rosneft and China's CNPC, endorsed the feasibility study for a project to construct the Tianjin refinery.

Rosneft head Igor Sechin took part in the meeting of the board of directors. 

The members of the board adopted a resolution to optimize the oil refining segment of the Tianjin refinery by the end of February 2015 with a primary crude processing capacity of 16 million tpy and a package for production of aromatic hydrocarbons with a capacity of 1.4 million tpy of paraxylene.

The board also resolved to send for rework the study for the Tianjin refinery in regards to the petrochemicalpackage.

Pursuant to the construction schedule signed by Rosneft and CNPC in May 2014, the refinery in Tianjin is planned to be started up in late 2019. 

In parallel, the same document regulates feedstock supplies for the refinery in a volume of 9.1 million tpy.