Thu Oct 13, 2011 12:47am EDT
* Planned JV won initial approval, pending final green light
* Latest pact shows sincere intention to cooperate
* Shell likely to lead in the Shell-Qatar side
* Imported condensate eyed as feedstock for petchem
BEIJING, Oct 13 (Reuters) – A proposed refinery, a petrochemical joint venture between China’s CNPC, Royal Dutch Shell Plc and Qatar, this week signed a framework deal with local authorities in eastern China’s Zhejiang province where the mega project will be built.
The project, to include a 400,000-barrel-per-day oil refining and 1.2 million tonnes-per-year ethylene plant, won initial approval from the National Development and Reform Commission, the country’s macro planner, in June, industry officials have said.
Pending final government approval, which also includes an environmental clearance, the greenfield refinery would give Shell and Qatar their first solid foothold in the world’s No.2 oil consumer, which is embarking on a refinery building boom.
The Taizhou venture, in coastal Zhejiang province, will use imported condensate and other raw materials to produce ethylene and other petrochemicals, CNPC said in a company newspaper.
“The agreement further clarifies work scope and targets for each side, reflecting sincere intentions to cooperate,” it said.
In January, Qatar Oil Minister Abdullah al-Attiyah and Wang Yong, head of the state-owned Assets Supervision and Administration Commission (SASAC), which is both a regulator and shareholder in most of China’s big state-owned companies, pledged to strengthen cooperation in the oil and gas sector and discussed the Taizhou project.
Industry experts told Reuters that the project, likely to cost close to $10 billion, would be led by Shell on the foreign partners’ side. Such an alliance follows a giant supply agreement between Qatar and China.
“The project looks promising to win Chinese government’s final blessing, as China may see Qatar quite a stabilising factor among the Middle East resource nations,” said an industry veteran.
CNPC is parent of PetroChina , Asia’s top oil and gas firm.
In May 2010, CNPC and Qatar Petroleum signed a 30-year deal for gas exploration and production in Qatar, holder of the world’s third-largest gas reserves. Shell, as operator, will hold a 75 percent equity stake, with CNPC holding the remainder.
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
