The Chinese company will set up a joint venture with Ineos, the world's fourth-largest chemicals producer, to refine and trade oil at Scotland's Grangemouth and France's Lavera refineries.

中石油将与全球第四大化学品生产商英力士成立一家合资企业，在苏格兰的格兰杰·莫斯和法国的拉瓦莱炼油厂提炼和交易石油。

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The department can only disburse such funds "after all applicable permitting issues are resolved, " Mr. LaVera said.

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