In a bid to expand its storage capacity, PetroChina (PTR) has started building an oil storage project in Kunming, the capital city of southwestern Yunnan province. The project is expected to handle 1 million tons of freight annually. It will have a storage capacity of 85,000 cubic meters in the first phase and 150,000 cubic meters after the second phase.  Apart from the storage expansion project, PetroChina has also been actively investing in the refining space. In the last month, the company started operations at the $4 billion Dushanzi refining and chemical complex in the Xinjiang province. The complex consists of a refinery and an ethylene plant with capacities of 10 million tons and 1 million tons a year, respectively. The company estimates that the project may generate approximately $8.8 billion in annual revenue.  Despite the tentative global outlook, China’s fuel demand is expected to remain ...

China’s largest integrated oil company, PetroChina Company Ltd. (PTR), has started operations at the $4 billion Dushanzi refining and chemical complex in the Xinjiang province. The complex consists of a refinery and an ethylene plant, with a capacity of 10 million ton and 1 million ton a year, respectively. The refinery, which processes high-sulfur crude oil, will increase the company’s total refining capacity of 2.58 million barrels per day (as of 2008). The company estimates that the project may generate approximately $8.8 billion in annual revenue. Most of PetroChina’s crude oil and natural gas reserves and production-related assets are located in northeastern, northern, southwestern and northwestern China. With the start of this refinery complex, the company is able to import and refine crude oil in the west part of the country. As per the Chinese government’s data, the country’s fuel demand may rise 4% in 2009. ...

Organic fertilizer company, China Agritech, Inc. (OTCBB: CAGC), announced that it will continue its working relationship with investor relations consultant Grayling Global.

Graying Global will continue to “conceptualize and implement a comprehensive communications program to strategically raise the visibility of the company’s growth story and explain its financial performance to shareholders, potential investors and the financial media,” according to the press release.

“We are pleased to have Grayling Global to help us craft our financial profile and raise the awareness of our strong growth prospects and the robust agriculture market in China in times of global slowdown,” said Mr. Yu Chang, China Agritech CEO. “As we are becoming a truly national organic fertilizer firm in China and expanding into overseas markets, we believe Grayling Global, with its deep understanding and extensive experience with agriculture companies in China, is best suited to guide this investor relations process.”

Grayling Global is a subsidiary of Huntsworth

...