Shaanxi Yanchang Petroleum forms joint venture with KBR

Shaanxi Yanchang Petroleum (Group) Co. Ltd. (Yanchang Petroleum Group) and global engineering, construction and services company KBR, Inc. have created a new joint venture company to market and sell Veba Combi Cracker (VCC) technology in China.  The new company will be operated jointly by Beijing Petrochemical Engineering Co., a subsidiary of Yanchang Petroleum Group, and the technology business unit of KBR.  VCC hydrogen technology processes refinery residuum, coal tar and coal oil mixtures and produces distillates or synthetic crude oil.  Liu Chunquan, president of BPEC, said, “The option to convert unconventional feedstocks such as heavy oil, coal-tar and coal-oil mixtures will be key in meeting China’s transport fuel demand for the next 25 years.  VCC is a highly competitive process for maximizing transport fuel yield from heavy oil and coal. We are very pleased to be collaborating with KBR on the use of VCC in China to maximize liquid fuel yields, whilst minimizing environmental impacts of heavy and unconventional feedstocks.” (June 23, 2011)