Will China build oil refinery in Gwadar Free Zone Area Phase II?
The Chinese enterprise’s engagement to build an oil refinery in Gwadar Free Zone area phase II has electrified the mood and morale of the CPEC’s reinvigoration, as the matter of whether it will be built has remained in limbo and caused ominous susceptibility on the future of Gwadar development.
Will Gwadar get a $4.5 billion oil refinery?
According to the press release of the Chinese firm, the East Sea Group, a $4.5 billion oil refinery is being built in Gwadar. It will have an annual oil processing capacity of 8 million tons.
Could oil refinery be established in Pakistan instead of Gwadar?
It was indicated vaguely that an oil refinery may be established somewhere else in Pakistan instead of Gwadar. However, a recent development saw Saudi Arabia signaling renewed engagement to come up with an oil refinery project in Gwadar.
Who owns Burmah-Castrol Oil?
In 1966, Castrol was acquired by company Burmah Oil, which was renamed "Burmah-Castrol". Burmah-Castrol was purchased by London-based multinational BP (then, "BP Amoco plc") in 2000.