A joint venture of Shell and CNOOC plans to expand its petrochemical facility in south China's Guangdong province in a project targeted for completion in 2028, the company said in a statement on Wednesday.

Shell PLC and CNOOC Petrochemicals announced investment decision for expansion of petrochemical complex in China to cater to growing domestic demand.

On October 31, 2024, CNOOC Ltd. and its partners announced start-up in the third phase of the Mero oilfield in the Santos Basin offshore Brazil. Mero3 has a production capacity of 180,000 bpd, which will raise the field’s installed capacity to 590,000 bpd, according to the owners.

BAKU, Azerbaijan, January 15. CNOOC and Shell Petrochemicals Company Limited (CSPC), a joint venture between Shell Nanhai B.V. and CNOOC Petrochemicals Investment Ltd, has announced plans to expand its petrochemical complex in Daya Bay, Huizhou, southern China, Trend reports.

Shell (NYSE:SHEL) said its joint venture with China's Cnooc (OTCPK:CEOHF) has taken a final investment decision to expand its petrochemical facility in south China's Guangdong province, targeting completion by 2028.

CNOOC (CEO) and Shell Petrochemicals Company Limited, a joint venture between Shell Nanhai B.V. (SHEL) and CNOOC Petrochemicals Investment Ltd, has taken a final investment decision to expand its petrochemical complex in Daya Bay,

The project includes the construction of a third ethylene cracker with a planned capacity of 1.6 million tonnes per year and downstream derivatives units.