Chinese company mulls building an oil refinery in Ukraine

Chinese company PetroChina is considering the possibility of investing in the construction of a modern oil refinery in Ukraine, Energy and Coal Industry Minister of Ukraine Eduard Stavytsky has said.

"We have drawn up and signed an engagement agreement, a memorandum between PetroChina and the Energy [and Coal Industry] Ministry which describes the issue," he said at a press conference in Kyiv on December 25.

According to the minister, the territory in which the non-operating Kherson oil refinery is located and a land plot near Odesa Portside Plant are being considered for the construction of the oil refinery.

Stavytsky also said that in H1, 2014 Ukraine intended to draft a feasibility study for the oil refinery and present it to interested investors, including those from China and Ukraine.

In July 2013, Stavytsky and the management of PetroChina International discussed possible cooperation in the oil sphere.