China's Sinopec said in a statement that it has not received a government order to relocate the Yanshan oil refinery, contradicting an earlier news report that the plant would be moved to develop the Xiongan New Area.
Sinopec's statement was released after a report from business media Caixin saying Sinopec would move the Yanshan oil refinery to the district of Caofiedian. Yanshan is one of Sinopec's largest plants in northern China, capable of refining 10 million tonnes per year of crude, or about 200,000 barrels per day.
Caixin said the relocation will help save water resources for Xiongan, citing Xu Kuangdi, chief adviser for the planning for the Xiongan economic zone.
