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U.S. majors are studying big petrochemical projects in China, where demand for petrochemical products is expected to continue soaring.
Phillips has three under way. Together with Lanzhou Chemical, it is conducting a feasibility study for a 1.3 billion lb/year ethylene cracker in Lanzhou. The complex, to be owned 50-50, would include polymer production facilities.
In Jinshanwei, Phillips and Shanghai Petrochemical are considering a joint venture to build a 100 million …