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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World China's CNPC agrees to expand Sudan refinery AP - Saturday, November 21 Send IM Story Print SHANGHAI – China National Petroleum Corp., the country's biggest oil and gas producer, said Friday it has signed agreements with Sudan to expand a refinery and swap oil production assets. It will be the second round of expansion for the refinery located in Sudan's capital, Khartoum, which processes 5 million tons of oil a year and provides 80 percent of Sudan's processed crude oil, state-owned CNPC said in a statement on its Web site. CNPC and Sudan each own half of the refinery, set up in 1997 with an initial annual processing capacity of 2.5 million tons. Under the agreement, CNPC is to swap a shareholding in Sudan's Block 6 with Malaysia's Petroliam Nasional Bhd's Block 5A, the company said. It did not give any financial figures or other details. CNPC, based in Beijing, also signed an agreement with Sudan's Energy and Mining Ministry to provide advance payment for crude oil shipments, it said. The Chinese side will work with Sudan in eight upstream and downstream oil projects, including prospecting, drilling, construction, pipelines and management, the company said. The plans are part of a 2007 initiative to expand ties with Sudan, a key source of crude oil for energy-hungry China. "China and Sudan, both developing countries, are facing many similar tasks and challenges ahead, and share broad common interests," the official Xinhua News Agency cited senior leader Zhou Yongkang as telling Sudan's President Omar al-Bashir in Khartoum on Thursday. Zhou termed the relationship "pragmatic cooperation." Xinhua said he also urged Sudan to fully implement a 2005 north-south peace agreement on ending the country's civil war, which is to lead to the country's first nationwide elections next year. Recommend Send IM Story Print Related Articles Army limits media access at Palin event at NC base AP - 56 minutes ago Cloud Peak Energy falls in first day of trading AP - 1 hour 3 minutes ago Trichet: time to withdraw some support measures AP - 1 hour 3 minutes ago America's Car-Mart fiscal 2Q profit rises AP - 1 hour 16 minutes ago Eddie Cibrian sues tabloid over story AP - 1 hour 16 minutes ago News Search Top Stories Giant atom-smasher poised for restart: CERN Russia, Ukraine reach gas compromise deal: Putin Copenhagen summit will be 'success': UN climate chief Scientists uncover corn's full genetic code Embryonic stem cell therapy closer to human trials More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » Most Popular Most Viewed Alcohol helps cut heart disease risk for men: study WHO plays down 'swine flu vaccination deaths' Scientists uncover corn's full genetic code Chocolate war looms as Hershey, Ferrero mull Cadbury bid Embryonic stem cell therapy closer to human trials More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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