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--FILE--View of an oil refinery of Shandong Hengyuan Petrochemical Co. in Dezhou city, east China's Shandong province, 27 December 2013.A Chinese private refiner that agreed to buy a stake in Royal Dutch Shell's Malaysia oil refinery will focus on expanding overseas while limiting domestic investment, the company's chairman told Reuters in an interview on Thursday (10). Shandong Hengyuan Petrochemical Co last month agreed to buy a 51 percent stake in Shell Refining Co Malaysia for .3 million, becoming one of China's few non-major refining firms that own an overseas refinery asset. Shell Refining's main asset is the 156,000 barrels-per-day refinery at Port Dickson that mainly provides fuel to the domestic market. Facing a surplus in Chinese refining capacity, the Shandong firm wants to boost the trading of oil products by working with Shell, and also expand the higher-value chemicals business at its plant in the eastern province of Shandong, said Wang Youde, chairman of Hengyuan Petrochemical.No Use China. No Use France.

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