Exxon Mobil signed new agreements on investment in China

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Exxon Mobil, the largest oil and gas company in the United States, said it signed new agreements on investment in China, despite the complication of trade relations between the US and China. This is an investment in a petrochemical project and a terminal for the import of liquefied gas in southern China. A framework agreement on cooperation was signed with the Guangdong Provincial Government, suggesting discussion of the possibility of building a petrochemical complex in an industrial park near the city of Hoizhou. Pre-launch of the complex is planned for 2023, however, the final investment decision on the project will depend on the competitiveness of the proposal and obtaining the necessary permits. Exxon also agreed to participate in the construction of the LNG terminal in Hoizhou, for which it plans to supply liquefied gas.

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