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Formosa Technologies Corporation Processing Crude Oil for Sinochem

Date:2003-04-07 Source:Sinochem Group
Sinochem and Formosa Technologies Corporation held the signing ceremony of crude oil processing agreement in Beijing, March 20. Li Hui, Sinochem Vice President and Director of Oil Group and Li Keyuan, Director of Formosa Oil Refinery signed the subcontracting agreement on crude oil processing.

The signing of the agreement marks a step forward towards the cooperation objectives set by Liu Deshu, Sinochem President in December last year when he led a delegation to visit Taiwan and reached cooperation consensus with Formosa Technologies Corporation in crude oil sector.

This agreement, together with the crude oil processing subcontracting agreement signed between Sinochem and Maoming Petrochemical Company is an important action in the development of new businesses by Sinochem Oil Group.