CNOOC Group to build biodiesel facility in Hainan in 2007
Written by Administrator
Friday, 23 March 2007
BEIJING, March 20 (InfoChina) – CNOOC Group, parent company of CNOOC (NYSE:CEO), plans to set up a 60,000 tons/year biodiesel facility this year in Hainan, the southernmost province in China.
The project’s investment will hinge on palm-oil (raw material for the biodiesel project) planting areas, which is still under feasibility study.
After the first phase of the facility is completed this year, the company will initially import palm oil from Malaysia.
CNOOC Group inked cooperation agreements with Malaysia in 2006 to co-develop biodiesel technology and projects. (Edited by Mo Lin,
)
China Stock News 
