CNOOC (HKG:0883, SHA:600938) is set to launch an upgraded refinery complex in Ningbo, China by around June, Reuters reported Tuesday, citing industry sources.

The complex, part of a 20 billion yuan expansion program, is located on Daxie Island, Reuters said.

It consists of more than a dozen newly installed facilities, including a 120,000-barrel-per-day crude unit, a 3.2 million-metric-ton-per-year catalytic tracker, a 2-million-ton-per-year hydrocracker, a 2.4 million-ton-per-year continuous reformer and two 450,000-ton-per-year polypropylene units, the report said, citing a tender document.

The upgrade will boost the Daxie plant's capacity by 50% to 240,000 barrels per day, and CNOOC's total crude capacity to around 1 million barrels per day, the report said, citing unnamed industry sources.

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