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China oil giant to set up logistics hub in Dubai

February 27/2012

(ecfchina) -- China National Petroleum Corporation is planning a logistics hub in Dubai to minimize possible disruptions from geopolitical risks in the Mena.

CNPC, state owned parent of PetroChina, plans to build an industrial park of 200,000 square meters in Dubai's Free Zone with production lines for engineering equipment.

CNPC source said that the company would use the park as an equipment store in the event of an emergency withdrawal from the Mena. CNPC has a strong presence in the region, developing large oilfields from Iraq to Sudan.

When unrest emerged in Libya early last year, CNPC halted production, sealed equipment in the North African country and evacuated its 391 Chinese employees after some project camps and operating sites were attacked.

Author:Anna Larionova
Tags:naphta, oil.
Category:General News
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