(Xinhua, Oct 30, 2006) Sources from Shandong Provincial Bureau of Ocean and Fishery disclose that Shandong Province plans to build petrochemical bases in Zibo, Qingdao and the Bohai Bay region, and that by 2010, the province¡¯s production capacities of oil refining, ethylene and synthetic resin will reach 50m, 2m and 3.5m tons, respectively.

Shandong Province, with a coastal line of 3121km, has considerable ocean mineral resources. Up to 3.5b tons of oil reserves is estimated to exist in coastal areas of Bohai Bay, of which 229m tons have been identified, and 11b cubic meters of natural gas were also identified there.
source:Xinhua
Drawn from Chinese language press