An unidentified manager with CNOOC told Caijing Magazine that the new plant will mainly refine crude oil produced by Bohai Bay oilfield as well as imported crude oil.
In early September 2009, an official from Dongying Economic and Trade Commission revealed that the project will involve a total investment of CNY45 billion along with a 10 million tons/year refinery and a one million tons per year ethylene plant.
