Sinopec signs joint venture contract with Saudi Arabian, US

时间：2007-02-28 01:44:51

（单词翻译:单击）

Beijing, Feb. 27 - China Petroleum1 and Chemical Corporation (Sinopec) has signed a joint2 venture contract with Saudi Aramco and ExxonMobil to refine and process sour crude oil in southeastern China's Fujian Province, Xinhua News Agency reported.

 

Sinopec, Saudi Aramco and ExxonMobil will have 50 percent, 25 percent and 25 percent stakes respectively in the joint venture project, which will start operation in 2009, with an output of 240,000 barrels per day, or 12 million tons per year.

 

The three oil giants will also establish a retail3 company, with Sinopec, Saudi Aramco and ExxonMobil possessing 55 percent, 22.5 percent and 22.5 percent stakes respectively. The company will operate 750 gas stations and a network of terminals in Fujian.

 

Total value of the two deals was unavailable in the statement of the three companies but a preliminary estimate in 2005 showed it would amount to 3.5 billion U.S. dollars, reported Tuesday's Shanghai Securities News.

 

With the Saudi Arabian company providing the hydrocarbon4 resources, Sinopec will be able to lower its production cost and avoid losses from fluctuations5 of oil prices on the international market, the report quoted Qiu Xiaofeng, an analyst6 with the Everbright Securities, as saying.

 

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1 petroleum WiUyi     
n.原油，石油
参考例句：
  • The Government of Iran advanced the price of petroleum last week.上星期伊朗政府提高了石油价格。
  • The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。
2 joint m3lx4     
adj.联合的，共同的；n.关节，接合处；v.连接，贴合
参考例句：
  • I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
  • We wrote a letter in joint names.我们联名写了封信。
3 retail VWoxC     
v./n.零售；adv.以零售价格
参考例句：
  • In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
  • These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。
4 hydrocarbon tcMzs     
n.烃，碳氢化合物
参考例句：
  • During incomplete combustion some of the hydrocarbon fuel is cracked.在不完全的燃烧中，一些烃燃料裂解。
  • The hydrocarbon must be an alkene.这个碳氢化合物必定是烯烃。
5 fluctuations 5ffd9bfff797526ec241b97cfb872d61     
波动，涨落，起伏( fluctuation的名词复数 )
参考例句：
  • He showed the price fluctuations in a statistical table. 他用统计表显示价格的波动。
  • There were so many unpredictable fluctuations on the Stock Exchange. 股票市场瞬息万变。
6 analyst gw7zn     
n.分析家，化验员；心理分析学家
参考例句：
  • What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
  • The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

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