Indonesian LNG contract goes to KBR, JGC partnership

• Publisher: Elsevier Science
• Year: 2005
• Tongue: English
• Weight: 37 KB
• Volume: 2005
• Category: Article
• ISSN: 1359-6128
• DOI: 10.1016/s1359-6128(05)00713-5

✦ Synopsis

BP and Kuwait Petroleum International (KPI) are to investigate and develop opportunities for future joint investment in China and elsewhere in Asia.

The two companies have agreed to co-operate in areas such as supply, refining, distribution and marketing to China and neighbouring countries.

BP said Chinese oil demand has risen by around 1.6 million barrels of oil per day in the last two years, with almost 90% of that increase supplied by imports, and it expects demand to continue rising over the next decade. BP already has investments worth US$3 billion in China, including stakes in petrochemical, retail, natural gas import and distribution, and other joint ventures.