China approves $20 billion mega petchem complex in Shandong oil hub - sources

SINGAPORE (Reuters) - China's state planner has given initial approval for a $20 billion (16.02 billion pounds) refinery and petrochemical project to be built in Shandong province, the country's hub for independent oil refineries, said two persons with knowledge of the matter.China's National Development & Reform Commission (NDRC) gave a greenlight on Monday for the Shandong provincial government to start planning a 400,000 barrel-per-day (bpd) refinery and 3 million tonne-per-year ethylene..