A Chinese standing committee meeting of the state council discussed and approved  mid-and long-term development plans for China's oil refining and ethylene industries.

The plans aim to guide and promote the rational distribution of the two industries.
They will also optimize their product mix and enhance their competitiveness in order to achieve an orderly and healthy growth, the committee said, Xinhua reported, monitored by the BBC.
Although the two sectors had achieved marked progress ever since the country's reform and opening-up in late 1970s and played a pivotal role in ensuring China's national economic and social development, they face such problems as insufficient supply capacity, low production level and weak competitiveness, said the committee said, chaired by Chinese Premier Wen Jiabao.
The meeting urged the two industries to further adjust product mix, pay attention to environmental protection and production safety.
They are also urged to strengthen efforts on tackling key scientific and technological problems and developing new technologies which can reduce energy consumption.
China's latest acquisition as part of its efforts to secure foreign suppplies, was inked last week when Cnooc paid out more than $2 billion last week for 45% stake in Nigeria's offshore oil block OML 130 from private Nigerian company South Atlantic Petroleum (Sapetro) Limited.
Commenting on the acquisition, Cnooc chairman and chief executive, Fu Chengyu said: "The purchase of this interest in OML 130 helps CNOOC gain access to an oil and gas field of huge interest and upside potential.
Further, it is located in one of the world's largest oil and gas basins. With one of the leading deep water experts as the operator of the field, we have every confidence.”