Chinese Oil Giants Move to Biofuels

Researched by Industrial Info Resources (Sugar Land, Texas). China National Offshore Oil Corporation – CNOOC Limited (NYSE:CEO) (Hong Kong) announced recently that a biodiesel plant with an annual output of 60,000 tons will be built within the year in Dongfang City, Hainan Province. Plans also include planting 100,000 mu (about 25.7 square miles) of jatropha curcas (a tree whose seeds and nuts can be processed to produce biofuel) in Hainan to provide raw material for the biodiesel plant in the future.

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